Rs. 250 m allocation to unlock investment potential of underutilised lands

Wednesday, 4 June 2025 01:12 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Monday approved proceeding with a wide-ranging development initiative to provide underutilised State-owned lands and properties to suitable investors for optimal usage.

The project is designed to attract private investment, particularly from small and medium enterprises (SMEs) with an initial funding allocation of Rs. 250 million from the 2025 Budget.

Speaking at the weekly post-Cabinet meeting media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the initiative targets the identification and repurposing of State-owned lands that have remained idle or underutilised for extended time.

“According to the said proposal, clear, underutilised lands/properties are expected to provide for the investment opportunities in the sectors of plantation and agricultural purposes, plantation-related tourism promotional activities, livestock development, water-based electricity generation, the freshwater fishing industry and plantation-related economic innovation activities,” he added.

The joint proposal submitted by the Agriculture, Livestock, and Land Irrigation Minister K.D. Lalkantha and Plantation and Community Infrastructure Facilities Minister Samantha Viddyarathna was approved by the Cabinet of Ministers.

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