Investors from Thailand keen to invest in sugar factories in Sri Lanka
A consortium of Thai investors plans to invest over $4 billion in Sri Lanka, focusing on solar power generation, fuel supply, and sugar processing factories. Discussions are ongoing with Sri Lanka’s Board of Investment, but the investors are waiting for political stability before proceeding. The consortium aims to boost local sugar production, reduce imports, and generate power from sugarcane waste.
Bangkok : A consortium of Thailand investors has shown interest in investing over $4 billion in three important projects in Sri Lanka, according to Damrong Theeramoke, Chairman of DG Enterprise Co. Ltd, Business Solutions. These three projects include solar power generation, supplying fuel to Sri Lanka and also building sugar processing factories.
Speaking to Daily News Business, Theeramoke said that discussions are already underway with Sri Lanka’s Board of Investment. However, the investors are waiting to ensure political stability and the continuation of current economic policies before moving forward. Once assured, they are prepared to proceed with their investment plans.
He also revealed that they have one investor interested in constructing multiple sugar manufacturing facilities in Sri Lanka in regions where sugarcane is grown.
Sri Lanka largely relies on sugar imports to meet its domestic needs.
The consortium sees significant potential for local sugar production, given the country’s reliance on imports. They also plan to generate power using sugarcane waste and produce ethanol.
Source Link : https://www.chinimandi.com/investors-from-thailand-keen-to-invest-in-sugar-factories-in-sri-lanka/
Recommended for you
