Sri Lanka $220mn sugar refinery by India's Shree Renuka Sugars

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Mon, 20 May 2013 14:19:32

11 Nov, 2012 15:58:26

Nov 11, 2012 (LBO) - India's Shree Renuka Sugars has signed a 25-year agreement with Sri Lanka's ports agency to start building a 220 million US dollar at a new industrial port in Hambantota in the island's south.

The refinery to be operated by Lanka Sugar Refinery Company (Private) Limited, is among seven large industries approved to be built at the port.

The factory will have a capacity to process 2000 tonnes of raw sugar a day, which will be expanded to 3000 a day later, Sri Lanka Ports Authority said in a statement.

The company is expected employ between 1,500 to 2,000 people during its construction phase and 300 to 350 will be technical grades, SLPA asid.

The plant is expected to be completed in 24 months.