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Shree Renuka Sugars To Start a Mill in Sri Lanka; 1800 New Jobs

A U$D 220 million sugar refinery complex will soon rise in Hambantota, Sri Lanka. In an agreement recently signed with Sri Lanka’s Board of Investments (BOI), the new business venture is projected to generate direct employment for some 300 workers and around I,500 additional ancillary jobs.

Shree Renuka Sugars Logo

Shree Renuka Sugars Logo

According to the BOI, inedible raw sugar will be sourced out from Brazil. The value added will be provided by the local refinery plant. It is understood that the refined sugar will be locally sold and will likewise be traded in the world’s export markets.

The commodity movement is expected to drive the activities in Hambantota ports to over I million tones of cargoes. In a statement coming from the BOI, the agency said that because of this upcoming project, the foreign exchange savings for the country , Sri Lanka, could be as much as U$D 450 million.

In India, Shee Renuka Sugars maintains refineries in the east and west coasts.

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