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Colombo, Monday Lankapuvath - Malaysia's Federal Land Development Authority (FELDA) has expressed their interest in large-scale investment in the agricultural sector, as a part of expanding their operations in the SAARC countries.

FELDA chairman Dr. Mohammad Yusof Noor, who led a delegation in the island recently to look into possible investment opportunities's told Commerce and Consumer Affairs Minister Ravi Karunanayake during a discussion that they are looking forward to manage several thousand hectares in the Mahaweli region.

Established in 1956 as an agriculture and re-settlement agency, FELDA at present manages more than 800,000 hectares of plantations mostly of oil palm, rubber, cocoa and sugar cane where it is one of the top edible oil manufacturers in the world.

Karunanayake said that FELDA's investment initiative could be on par with the government's plan for import substitution as it is keen on agricultural projects on producing sugar, lentils, dry crops, grains, green chilies, onion and milk.

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