Estate lands see profitable transformation

Achieves billion dollar target

Ramani Kangaraarachchi

The country has achieved a billion dollar target from the plantation industry and people can see a new dimension but that is not good enough and we must identify opportunities and do better. Governor Central Bank Ajith Nivard Cabraal said.

Dr. Sunil Jayasekera	AjithCabraal Pix Sumanachandra Ariyawansa

Speaking at the Plantation Development Forum held at Hotel Intercontinental Colombo on Friday, he said there should be a new dimension of investment coming to the country as well.

As a policy the Government will not sell its assets and the country can utilise them better without the Government coming in. The challenge is to utilise the lands properly and create value to our people, he said.

Director Plantation SEMA Dr Sunil Jayasekara said there are 52,000 hectares of plantation land assets in the country and SEMA has introduced a set of policy guidelines under four categories for the development of plantation assets.

The first category is scientific development of high productive crop lands (A and B) which will be developed scientifically and profitably by the State.

Secondly, the diversification of low productive lands (C and D) which will be developed for livestock, intercrops and forestry.

Thirdly isolated unproductive and unprofitable lands, and finally high valued urban lands for new business development projects, which will be developed through joint ventures and public-private partnerships.

He said that state plantation estates in several districts are presently being utilised and cultivated with plantation crops such as coconut, rubber, cashew, and are being scientifically developed by efficient commercial management and transformed to be profitable enterprises.

"However, most estates have some lands that could be utilised for commercial development projects as required by appropriate resourceful entrepreneurs considering the opportunity costs and advantages.

Dr Jayasekera said the investment opportunities include inter cropping (pineapple, banana), animal husbandry, timber plantation dendro power projects, water bottling processing industries, urban infrastructure and mineral industries.

He insisted that guidelines are given to have an idea to start business and they are always flexible and possible to negotiate to suit each category. A large number of private sector entrepreneurs interested in business participated at this event.