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Namunukula Plantations sub-leases estates for a tea bottling project

June 15 (LBO) - Namunukula Plantations said Thursday that it had subleased its Uva range of estates to Tusker Bottling Company for 50 million rupees.
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With the sub-lease, TBCL also took over borrowings of 350 million rupees from Namunukula, the company said in a statement to the Colombo Stock Exchange.
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The up-country estates were handed over to TBCL for a Board of Investment approved tea bottling project, a top company official said. Namunukula has interests in cultivation and processing of tea, rubber, coconut, oil palm and other minor crops.
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The company is managed by the Richard Peiris Group, which also manages the Maskeliya and Kegalle plantation companies. -LBO Newsdesk-
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