State Minister Dassanayake: USD 300 mn could be earned from Cement Corporation land

State Minister of Primary Industries, Mr. Chamara Sampath Dassanayake has said 5,000 acres of land owned by Sri Lanka Cement Corporation can be utilised to generate USD 300 million annually.

The announcement was made during a press briefing under the theme, “Collective Path to a Stable Country,” at the President’s Media Centre (PMC) yesterday (07).

The Presidential Media Division (PMD) said that while specific details about the chosen organization and the planned development were unavailable, the initiative signified a significant step towards what it called economic growth and resource optimisation

The PMC quoted the State Minister as having said, “While our phosphate company possesses valuable mineral resources estimated at Rs. 24 million, legal challenges from NGOs currently prevent us from profiting from it. Despite this hurdle, we successfully generated income through phosphate sales, enabling us to cover all loans, fulfil salary payments, and contribute Rs. 350 million to the Treasury.”

“We also generated profit from salt mines in Elephant Pass and Mannar, further contributing Rs. 100 million to the Treasury. These examples demonstrate the potential of utilizing our nation’s resources for economic benefit.”

“However, challenges such as legal cases against phosphate exports can arise. While these obstacles exist, we must not be discouraged. Giving up on resource utilisation due to difficulties would be a disservice to our struggling nation. In these times, maximizing the potential of our resources becomes even more crucial”, the State Minister further explained.

The Sri Lanka Cement Corporation, currently holding 5,000 acres of land rich in mineral resources, is on the verge of being restructured, according to the PMD.