The Cabinet has approved the leasing of 15 underutilised state plantation properties, including agricultural lands, scenic bungalows and inactive factories, to private investors under long-term agreements.
The properties are managed by the Sri Lanka State Plantations Corporation (SLSPC), Janatha Estates Development Board (JEDB) and Elkaduwa Plantations Limited.
The decision follows a competitive selection process aimed at making better use of state-owned assets and attracting private investment.
Under the first phase, 1,514 hectares of land, 10 tourism bungalows and scenic locations, and 15 inactive factories were offered for investment.
The process attracted 470 initial Expressions of Interest (EOIs), followed by 44 formal proposals covering 30 property units.
Based on the recommendations of the High-Level Procurement Committee, Cabinet approval has been granted to award leases for 15 selected properties. (Newswire)