Lanka Sugar Company will set up a third sugar factory which will produce around 25,000 million tonnes of sugar and 6 million litres of ethanol per year, said the chairman of the company Janaka Nimalachandra, reports Sunday Observer.
The company aims to cross profit of Rs 2 billion and increase its performance this year compared to the preceding year, he said.
The Company’s Sevangala factory produced 17,796 MT of sugar last year, the highest sugar output in the last 35 years. He said this has helped the country reduce the foreign exchange on imports.
The factory had produced 5.08 million litres of ethanol recording a turnover of (Sri Lankan Currency) RS 4,200 million in 2021.
“We have increased the income of farmers by Rs 75 million with an increase of Rs 250 per tonne,” he said.
The Company’s Pelwatte unit last year recorded annual sugarcane production of 488,168 MT which was the highest since 2003-04. The sugar output from this unit was 30,381 MT.
The company has grown sugarcane on 10,000 acres including 8,500 acres at Sevangala and 1,500 acres at Pelwatte.
