The Cabinet of Ministers has approved the allocation of land plots in 13 regional industrial estates to investors for the establishment of new industries, under long‑term lease agreements.
The initiative is part of the Regional Industrial Estate Development Program implemented by the Ministry of Industries and Entrepreneurship Development to promote industrial growth at the regional level. Under the program, basic infrastructure is first developed on identified lands, which are then leased to suitable investors.
Following evaluation of proposals, the Regional Industrial Services Committee established under the Industrial Promotion Act No. 46 of 1990, together with the Ministry’s Project Evaluation Committee, recommended land allocations for 23 projects.
The approved projects represent a total investment of approximately Rs. 2,805.26 million and are expected to generate around 870 direct employment opportunities.
Accordingly, the Cabinet endorsed the proposal presented by the Minister of Industries and Entrepreneurship Development to lease land plots to the 23 investors for a period of 35 years, ensuring long‑term industrial development across the country. (Newswire)