The Board of Investment (BOI) signed a 30-year investment agreement with MG Sugars Lanka (Pvt) Ltd to revive and restructure the Kantale sugar factory.
The project would be run on a Build, Operate and Transfer (BOT) basis and 51% of the shares will be held by the Government and 49% by the foreign investor.
The investment of US $ 110 million will be borne by the investor. SLI Development (Pvt) Ltd, Singapore is the foreign investor. The number of direct employment opportunities would be around 1,220.
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