Sri Lanka’s Watawala Plantations invests millions in cinnamon processing center
Daily Mirror: Diversified agribusiness company Watawala Plantations PLC recently marked a significant milestone in the country’s agricultural landscape, with the opening of its state-of-the-art cinnamon processing center in Udugama, Galle.
Completed with an investment of Rs.90 million, this facility is one of the largest cinnamon processing centers in Sri Lanka, which operates under the Good Manufacturing Practices (GMP) standards. The facility was opened by Watawala Plantations PLC Director Vish Govindasamy.
Spanned across over 100 hectares of cinnamon-cultivated land, the cinnamon processing center will have a processing capacity of 900,000 cinnamon trees, with an annual output of 100,000 kilos of processed cinnamon, in two harvesting seasons.
The center is also equipped for cinnamon leaf oil processing, adding significant value to this remarkable crop. Furthermore, it will generate more than 200 direct and indirect job opportunities, contributing to the community’s socioeconomic development by providing jobs and stimulating economic growth in the Udugama area.
“The inauguration of our state-of-the-art cinnamon processing center in Udugama marks a proud moment for Watawala Plantations PLC. This facility represents our unwavering commitment to agriculture excellence and underscores our dedication to empowering local communities through job creation and stimulating economic growth in the region. We believe that this center will not only produce export-quality cinnamon but also cultivate opportunities and growth, further enhancing Sri Lanka’s position on the global stage as a premier cinnamon producer,” commented Watawala Plantations PLC Deputy General Manager Operations Prasanna Premachandra.
The facility boasts a massive footprint and conforms to rigorous local and international standards, ensuring the highest quality of cinnamon products. Moreover, the center’s scientifically designed floor plan and structure provide maximum efficiency and product quality. In addition to processing its crop, Watawala Plantations PLC will actively buy cinnamon from third party farmers, empowering them with a reliable platform to sell their harvest.
Sri Lanka’s cinnamon industry has long been renowned for producing some of the world’s finest and most sought-after varieties. The country’s favorable climate and unique soil conditions provide the ideal environment for cultivating this aromatic spice, known for its sweet and warm flavor. Sri Lanka’s cinnamon, often called ‘Ceylon Cinnamon’, has gained global recognition for its superior quality and distinct taste.
OSL take:
The diversifying business portfolio of Watawala Plantations is indicative of the overall economic activities in the country. Sri Lanka’s private sector has shown great resilience even amidst the challenging economic conditions and had recorded growth and profits in the past few years. The country’s private sector looking at expanding operations also indicates the overall growth in business/investment opportunities in Sri Lanka. With Sri Lanka working towards becoming an emerging business destination in the South Asian region supported by the country’s geographical positioning in the Indian Ocean and the strong trade ties, there would definitely be an expansion in business/investment opportunities in the country. The profits recorded by the private sector shows the lucrative nature of businesses in Sri Lanka. Given the country’s ongoing economic activities and trends, foreign businesses/investors could explore the growing opportunities in all key economic sectors in Sri Lanka while also looking at forming partnerships or joint ventures with local businesses with the aim of further expansion.
| Article Code : | VBS/AT/20231010/Z_2 |