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In keeping with Mahinda Chintana policy :

Milco goes for Rs 7 billion modernization program

Processing facilities in four milk factories and 20 milk collection centres of Milco (Pvt) Ltd will be modernized shortly in keeping with the Mahinda Chintana policy to popularize liquid milk consumption among the public.

The Government has taken the initiative to modernize the entire Milco factory with an investment of Rs. 7 billion.

The project will be facilitated by a Danish company, Desmi Contracting AS and will be completed by early 2011, Milco (Pvt) Ltd. Chairman Kumar Abeysinghe told Daily News Business.

The project will be launched with a loan facility given by a Danish company through the Treasury at a concessionary rate.

With the state-of-the-art facility at the factory, Milco could strengthen the collection process and thereby increase the volumes collected. This would generate more employment opportunities and income for milk farmers. This will result in more economic activities and improved living standards in the rural sector, he said.

The modernization process would be facilitated to introduce the latest technology in milk production to Sri Lanka to be on par with developed countries.

The peaceful environment in the country has contributed positively to develop the milk production process as a large extent of land in the North and the East could be used for the milk industry. Milco could benefit by the enhanced milk production in these provinces as it could cater to this high capacity factory, he said.

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