Local industrialists to set up factories soon

COLOMBO: A large number of local industrialists have shown interest to set up factories under the Gamata Karmantha programme of the Industrial Development Ministry. They will be received all concessions normally provided to the BoI investors, said Industrial Development Minister Kumara Welgama.

The Minister was speaking at the foundation laying ceremony of factory building of Pelwatta Dairy and Livestock Feed Manufacturing Company in Moneragala. Six factories each with an investment of Rupees 50 million will be set up under this programme.

More than two thousand people will receive employment under this scheme.

The factory is the first to be set up under this scheme. The factory is to be located at Pelwatta area Buttala, Moneragala is estimated to cost Rs. 1,250 million while the investment during the first phase will be Rs. 780 million.

Milk powder, butter, cheese, sweetened milk and animal feed have been earmarked to produce at this factory. During the first phase, 800 unemployed youth of the area will be recruited and at a later stage 25,000 self-employment opportunities are expected to provide.

Minister Welgama highlighted a unique feature of the Pelwatta Sugar Factory, was its ability to generate power needed to run the factory in addition to the production of sugar. He said the factory had the capacity to supply 25 megawatts to the Ceylon Electricity Board. He said the new factory will be a boon to the local economy and said that the Government should encourage local industrialists to start similar business ventures everywhere.

Unlike other BoI foreign investors who will vanish without trace, the local entrepreneurs will always stick to their businesses. The Minister said that there were enough instances of foreign investors who have disappeared even after taking huge loans from local banks.

Minister Welgama thanked Ariyasheeli Wickramanayake for pioneering to this enterprise. He had several business ideas to develop the area, he said.

The Minister said he will convey to the President the people's sentiments against the BoI approved golf project in the area and was critical about certain actions of the BoI while regard to the phosphate deposit that comes under his Ministry. Fifty per cent (50%) of the fertiliser needs of the country could be supplied if this phosphate deposit was properly used.

Rural Livelihood Development Minister Jagath Pushpakumara, Sumedha G. Jayasena, Minister of Children Development and Women's Empowerment, Mr. Ariyasheeli Wickramanayake, Managing Director of the Pelwatta Dairy and Livestock Feed Company, Ranjith Madduma Bandara, UNP MP, Dayarathne Bandara, Minister of Industries Uva Provincial Council, R. V. D. Piyathilake, Additional Secretary Ministry of Industrial Development and several others.