Sri Lanka's Cabinet has endorsed the allocation of land plots across 13 regional industrial estates to 23 investors under long-term lease agreements, expected to attract over Rs. 2.8 billion in investment.

The Cabinet of Ministers has granted approval for distributing land parcels to investors across 13 regional industrial estates as part of efforts to strengthen industrial development outside the capital region. The initiative falls under the Regional Industrial Estate Development Program, which is overseen by the Ministry of Industries and Entrepreneurship Development and aims to decentralize manufacturing and production activities.

Under the program's framework, designated land areas are first equipped with necessary infrastructure before being made available to qualified investors through long-term arrangements. The Ministry's Project Evaluation Committee and the Regional Industrial Services Committee, established under the Industrial Promotion Act No. 46 of 1990, conducted a thorough review of submitted proposals before recommending the 23 projects for approval.

The approved projects collectively represent an anticipated investment of approximately Rs. 2,805.26 million and are projected to create roughly 870 direct employment positions. The Cabinet has authorized lease agreements spanning 35 years, providing investors with extended tenure for establishing and operating their industrial facilities across the country.

This land allocation strategy represents a systematic approach to fostering industrial growth in regional areas, allowing the government to first develop essential infrastructure before transferring plots to suitable operators through extended lease terms.