Sri Lankan government to import fertilizer worth over US$ 20 million
The government of Sri Lanka has reportedly decided to import fertilizer worth over US$ 20 million to meet the local requirements.
The Cabinet of Ministers had granted approval to the relevant Cabinet paper submitted by Sri Lanka’s Mahaweli, Agriculture, Irrigation and Rural Development Minister Chamal Rajapaksa for the procurement of fertilizer by Lanka Fertilizer Company Ltd. and Colombo Commercial Fertilizer Company Ltd. in terms of the recommendations of the Standing Procurement Committee appointed by Cabinet.
Accordingly, 47,700 MT of Urea (Granule) have been approved for Agri Fertilivan International Trading Ltd. for a price of US$ 268.90 per 1 MT, which totals to about US$ 13 million and as much as 15,000 MT of Triple Super Phosphate to Valancy International Trading Ltd. for a price of US$ 262.74 per MT at a total cost of US$ 3.9 million, local media reports state.
The government of Sri Lanka is to also import 13,600 MT of Murrieta of Potash to Agri Commodities and Finance for a price of US$ 317.25 per MT for a total of US$ 4.3 million and 3,060 MT of Urea (Frilled) by the same company for a price of US$ 285.00 per MT, which is worth US$ 872,000.
The overall growth and expansion of Sri Lanka’s economy has resulted in the opening up of many business opportunities in the country for interested foreign businesses. Like the importing of fertiliser, Sri Lanka’s economic expansion has created opportunities for foreign businesses to explore new ventures that would help the growth and development of key economic sectors in the country.
|Article Code :||VBS/AT/20200303/Z_3|