Govt to invest Rs. 6 bn to open Kantale Sugar factory

The government through Lanka Sugar Company Ltd, would be investing Rs. 6 billion to re-open the Kantale Sugar Factory.

The Kantale Sugar Factory which was one of the best factories in Asia, was closed for almost 30 years due to various reasons.

The newly appointed Minister for the Sugar Industries, Lakshman Seneviratne told the 'Daily News' that they hope to raise funds for this project through bank loans. "From 1980 to 1986, the factory earned a profit of Rs. 70 million and we believe this trend could be repeated ," he said.

(SS)