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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2399

Daya Group will invest another 5000 million rupees in various new investment fields

By Sunil C. Perera, Reporting from Colombo

Colombo, 12 May, (Asiantribune.com): The Daya Group, Sri Lanka’s largest company and its subsidiary the Sevenagala Sugar Industries Ltd has planned to invest in new fields. The company says its total investment would be five thousand million in such fields as Green Power generation, manufacture of sugar, manufacture of apparels, Agro based Industry, travel and leisure industry and property development.

Company Chairman Daya Gamage says he expects to create more employment in the rural sector to cater the Mahinda Chinthanaya-which aims to develop economy of the poor masses.

“The vision and trust of our company is also the same. Therefore, under Mahinda Chainthana we have already started seven projects, which generate more than 3000 new employment opportunities. All these benefits go to rural mass,” he said.

The Board of Investment of Sri Lanka has granted its approval for the Green Power Generation in Embilipitiya using baggase [Sugar waste]. The company has allocated Rs 1500 million for the project, which will add power to the national grid.

At present the Sevenagala Sugar Industries generate its own power to operate large boilers. The chairman said the factory would extend the generation capacity using a new generation plant.

The company hopes to start the largest luxury hotel located in the sugar fields to attract local and foreign clientele. However the project is in the hands of officials of the local environmental bodies, the Chairman said.

Speaking to the media Mr.Gamage said the Sevanagala Sugar Industries has planned to produce more than 35,000 metric tons of sugar during the year.

He said that the company had motivated the farmers to increase the extent of plantation up to 4500 hectare. The company uses it’s out grower system to increase the production. According to the Chairman, the company provides various incentives and facilities to the out growers.

Speaking to media Mr. Gamage said that though the company was planned to increase the production to 35,000 metric tons in 2005, unfortunately, last year a group of employees who were politically motivated, did not allow us to run the Factory which resulted not only reducing the targeted sugar production of 35,000 Metric tons, but also 40% of the farmers lost their whole income from sugar cane plantation.

In addition, a contribution of more than five hundred million to the economy was denied which paved the way to incur foreign exchange in importing sugar.

“We have already proved our capability despite all these obstacles by increasing our production to 70,000 metric tons If the government entrust us with this responsibility the company will prove within the next ten years Sri Lanka can be self sufficient in sugar,” said the leading entrepreneur.

However the company needs government assistance and allocation of another 55,000 hectares of land for sugar cultivation.

Explaining current environmental measures taken by the company he said after the production of alcohol through the molasses, the residue is defined as spent waste. Its BOD level of this spent waste is very high and therefore, spent waste cannot be disposed to the environment.

However, during the time of Government management this was released to the near by streams during rainy seasons. But under our management up to now, we have not disposed the spent waste to the environment .We used this
to enhance the fertilizer levels of the Sugar fields, he said.

This contributes to increase sugar cane yields from 57 Metric tons to 87 /per harvest. Giving a percentage increase of 53%. This spent waste has rich elements, which can be used to produce biogas and organic fertilizer, Mr.Gamage

- Asian Tribune -

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