Sri Lanka receives Swedish and Indian assistance to promote cassava cultivation and set up cassava flour plant
Foreign direct investments (FDIs) are being received by Sri Lanka for village level agricultural product promotion programme implemented under the Grama Shakthi People’s Movement, local media reports state.
The media has reported that a group of Swedish and Indian investors are keen to provide assistance in establishing a Cassava (Manioc) Flour Plant and to promote the cultivation of cassava in Sri Lanka.
The propsoed cassava cultivation programme is to be focused in the Polonnaruwa, Trincomalee, Batticaloa and Monaragala districts. Accordingly, around 6,000 hectares of land are expected to be cultivated under the programme.
Under the programme, the proposed new factory will convert the cassava purchased from the farmers into flour and also produce sugar.
A large number of job opportunities will be created as a result of this investment and this process will help to reduce the high expenditure on sugar imports, the media has further reported.
The construction work of the proposed new factory is to commence this year using Swedish technology.
The interest shown by India and Sweden to invest in Sri Lanka village level agricultural product promotion programme is an indication of the potential for development programmes in rural agricultural production. The move to promote the cultivation of cassava and the setting up of a cassava flour plant would be an encouraging sign for other foreign businesses/investors to look for similar opportunities in Sri Lanka. Local small scale agri businesses could also look at forming partnerships with foreign companies to expand existing production operations.
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