By: Staff Writer
August 27, Colombo (LNW): A plan to cultivate and make and export value added products from cannabis has drawn 30 investors, State Minister for Investment Promotion, Dilum Amunugama said.Sri Lanka has made a set of regulations for cannabis cultivation.
“We have got about 30 applications and they are being processed by a committee,” Minister Amunugama said.” No one has come to the growing stage yet. But land allocation is being done.”
The committee is made up of officials that include representative of the Department of Ayurveda and the Board of Investment.
Canabidiol, (CBD or cannabis oil), is one of the primary products of the industry which is used in medicinal and other applications
Govt’s cannabis investment plan: 30 parties express interest, projects to be based in Mirigama and Kandy
The government expects to attract an investment of around USD 1.5 billion to the Kappalthurai Industrial Zone in Trincomalee, the second industrial zone in the country, connected to key infrastructure facilities such as ports, railways, and airways in Sri Lanka. State Minister of Investment Promotion Dilum Amunugama said.
Addressing a media briefing, the Investment Promotion State Minister also said that the cannabis investment plan of the government has so far received 30 applications, which are currently at the committee stage.
3BD extraction or oil extraction will be the minimum value addition. If they go beyond that, whatever the final product is, they can also produce that within the dedicated source”, the State Minister added.
In response to a question raised by a journalist, Amunugama mentioned that the cannabis projects will be located within Mirigama and Kandy.
The State Minister, who also commented on the Kappalthurai Industrial Zone, stated that it will be connected to ports, railways and airways. “That is what happens with the industries and of course the Trincomalee city development plan has been reactivated.”
“The only thing is that we don’t have necessary funds to activate the whole project at once, so gradually part by part, they will be engaged”, he highlighted.
Furthermore, Amunugama expressed that heavy industries will operate in the Kappalthurai Zone, adding that it will be the most attractive industrial zone where all three modes of transportation through sea, air and railway cargo will be available.
