UDA signs MoU for land to construct pharmaceutical factory | Daily News

UDA signs MoU for land to construct pharmaceutical factory

A land under the Urban Development Authority (UDA) will be used to construct a pharmaceutical factory at cost of Rs. 8 billion and the Memorandum of Understanding (MoU) to provide 65 acres in Meelawa, Kalutara for the project was signed recently under the patronage of Urban Development, Coast Conservation, Waste Disposal and Public Sanitation State Minister Dr. Nalaka Godahewa and Pharmaceuticals, Supplies and Regulation State Minister Prof. Channa Jayasumana.

The Vision for Prosperity and Splendour policy statement of President Gotabaya Rajapaksa calls for encouraging local manufacturing in every sphere and this endeavour by the two ministries will contribute to realising the vision.

The factory will manufacture five types of drugs and capsules and the construction of the factory will be completed in three years. The Treasury will invest in the project, which will save Rs. 20 billion worth of foreign currency annually. Orthopedic surgical equipment and optical lenses will be manufactured at the Meellawa Manufacturing Facility.

Dr. Nalaka Godahewa said that the key challenges faced by local and foreign investors so far have been land acquisition and getting necessary government approvals. The UDA has a policy to resolve investor problems rapidly and all actions on this project were taken based on that spirit. We will go all out to help investors,” he said.

Urban Development, Coast Conservation, Waste Disposal and Public Sanitation Ministry Secretary Sirinimal Perera and several other senior officials of the ministries participated.