Cabinet approves lease of 200 hectares of forest land in Vauvniya for cultivation of sugarcane

The Cabinet of Ministers approved the proposal presented by the President in his capacity as the Minister of Investment Promotions to lease 200 hectares of forest land belonging to the Department of Forestry in Vauvniya North Divisional Secretariat Division to Sutech Sugar Industries (Pvt.) (Green Field Sugar Development Project) for sugarcane  cultivation and sugar production.

Thailand’s Sutech Engineering Company is to invest US$ 400 million for the project which is expected to produce 20 percent of the country’s sugar requirement.