Rs 28m cash crop project

Asia Plantation Capital (Private) Ltd has received BOI approval to launch a cash crop and forest project with an initial investment of Rs. 28 million in the Polonnaruwa district.

The company hopes to cultivate wheat, sesame seed and soyabean on 300 acres under this project.

Although rain water is the main source of irrigation in this area farmers joining the project will be able to cultivate three seasons with water provided from a special irrigation scheme built under this project, said the Government Information Department in a press release.

The wheat produced under this project will be utilised to meet local demand and the excess will be exported to europe.

The agreement was signed by Chairman and Director General Dhammika Perera on behalf of the BOI and Director Arjuna Dissanayake on behalf of the Asia Plantation Capital (Pvt) Ltd.