The Kappalthurai Industrial Zone in Trincomalee is expected to receive an investment of roughly USD 1.5 billion, according to State Minister of Investment Promotion Dilum Amunugama. Being the second of its kind in Sri Lanka, this new industrial zone will profit from its advantageous location near vital transportation hubs like airports, railroads, and ports.
Amunugama gave an update on the government’s cannabis investment proposal during a recent media briefing. He disclosed that thirty applications have been received for the initiative, and a committee made up of representatives from the Ministry of Investment Promotion and the Ayurvedic Department is presently reviewing them. Land allocations are in progress, and future projects are planned, even though no applications have yet advanced to the growth stage.
According to the State Minister, 3BD or oil extraction will be the bare minimum value addition for cannabis projects. By producing their finished goods inside the allotted regions, projects might increase their value even further. It is anticipated that cannabis will be grown in Mirigama and Kandy.
Amunugama highlighted the Kappalthurai Industrial Zone’s position in the Trincomalee city development plan as well as its accessibility to main transportation options. He said that because of financial limitations, the project will be carried out in stages, with major industries being planned for the zone. As a major center for goods by air, sea, and rail, the Kappalthurai Industrial Zone is a highly desirable location for investors.
In closing, the State Minister restated the objective of drawing $1 billion to $1.5 billion in investments to the Kappalthurai Industrial Zone.