Country needs massive investments - Minister Basil Rajapaksa

Lankan in Qatar invests in milk production:

Economic Development Minister Basil Rajapaksa stressed the need to entertain massive investment projects to upkeep the principles of Mahinda Chintana as an agriculture based nation and added that the new Livestock Production Centre - 'Petro Lanka' - at Banduragoda, Mirigama was an incentive in that pathway.

Minister Rajapaksa opened the Centre initiated with an investment of Rs. 20 million by a Sri Lankan expatriate employee, Lokitha Karawita who served as a Senior Construction Engineer, Petroleum corporation, Doha-Qatar.

He commended the massive personal investment towards the country by this patriotic Sri lankan. Speaking on the occasion, Managing Director of the newly established centre, Lokitha Karawita who named the centre as "Petro Lanka" over his affiliation with the petroleum sector in Qatar stated that Sri Lanka could be made the miracle of Asia if all Sri Lankans worked with patriotism and commitment.

Karawita has invested Rs. 20 million for the phase of this milk producing venture to incrase the capacity of local production.

The milk production of the country at present stands at low ebb and this BOI approved project of "Petro Lanka" will produce an additional 150,000 liters in the milk grid.

It is expected to increase the production up to 400,000 liters in the near future under a phased out program. This new project will generate twenty direct and 40 indirect employment opportunities located on a 17 hectare land.

Sri Lanka incurs an expenditure of Rs. 17 billion annually on importation of milk foods to the country to meet the demand.

The expansion of the milk producing sector would generate self-employment opportunities and minimize heavy exchange flowing out of the country. Present on the occasion were Livestock Resources and Rural Resources Minister, Arumugam Thondaman, Chairman, Livestock Development Board, Ranjith Ellegama and Director, Petro Lanka, Mahinda Liyanage.