ECONOMYNEXT – Sri Lanka will give a defunct paper factory owned by state-run National Paper Company and 111 acres of land on a 30-year lease to be revived by Korean Spa Packaging (Pvt) Ltd, a government statement said.
The Sri Lanka-based Korean Spa Packaging, a packaging company had agreed to revive the firm but the land lease had not been regularized.
The cabinet of ministers had approved a proposal by Industries Minister Wimal Weerawansa to formally lease 111 acre and 2 rood land in Empilitiya to National Paper Company.
The factory, which was closed in 2012, will be revived as a public-private partnership, the statement said.
Weerawansa, a former member of Sri Lanka’s Janatha Vimukthi Peramuna has accelerated leases of state land to several private firms for industries. (Colombo/March01/2022)
