Sri Lanka offers land for agri-business

Sept 27, 2010 (LBO) – Sri Lanka is offering 200 acres of land for commercial agriculture on the bank of a major river bordering the island north-eastern region, meeting long-standing requests from businesses for land, a statement said. The offer comes in response to repeated requests from agri-business firms who have been clamouring for land on which to start commercial agriculture. The land is available in plots of 50 acres each in the Maduru Oya river south bank of the Mahaweli River B zone, the statement by the Mahaweli Authority said.

Investors will have to get water for irrigation from tube wells, it said.

Preference will be given to agri-businesses approved by the investment promotion agency, the Board of Investment, and those paying taxes, the statement said.

Selected investors will have to make a million rupee deposit with the Authority which will be returned in two years if the Authority is satisfied with the progress of the venture.