Sri Lanka government to reopen the Hingurana sugar factory

Sri Lanka Ministry of Investment Promotion and Enterprises Development has taken steps to reopen the Hingurana sugar factory which remains closed for around ten years.

The agreement to reopen the factory renamed as Galoya Plantation Company will be signed in the first week of June, Ministry sources said.

Fifty one percent of the stakes of the Galoya Plantation Company will be owned by the government and Browns and Lanka Orix Leasing Company will own 24.5 % each.

With the commencement of production in the factory 820 persons will obtain direct employment and 4,400 families that will grow sugarcane to supply to the factory will also be benefited.

Sri Lanka currently produces only 10% of the country’s annual need of 625,000 metric tons of sugar.

Extracted from,
http://www.colombopage.com/archive_07/May27134807SL.html