Sri Lanka gets 10 investment proposals from China

Colombo, June 21 (IANS) Ten proposals from Chinese companies have been handed over to Sri Lanka's investment promotion ministry, an official said here Friday.

Investment Promotions Minister Lakshman Yapa Abeywardana told the media that the proposals were to set up factories in areas such as the central and eastern parts of the country.

The proposals include a steel factory, an IT Park and assembling motor vehicles, reported Xinhua.

"One proposal was to produce herbal beauty products but most of them are for smaller ventures of around $25-50 million," he added.

The Sampur investment zone in the east received cabinet approval over the weekend.

The cabinet approved the setting up of a special zone for heavy industry at Sampur. However the project got delayed due to litigation by land owners in the zone acquired by the Board of Investment.


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