## Cabinet Approves Long-Term Leases for BOI Projects in Kerawalapitiya 📈

The Cabinet of Ministers has authorized 30-year leases for two major industrial and logistics ventures on reclaimed land in Kerawalapitiya, Wattala, aimed at boosting manufacturing and supply chain infrastructure. • Industrial Manufacturing Project: Powertech Products Ltd (backed by DHT Cement Ltd) will invest US$ 7 million to establish a factory for fibre cement roofing and flat sheets. The project targets both domestic and export markets. • Financials: One-time lease payment of Rs. 272.20 million plus an annual nominal rent of Rs. 83,500. • Logistics & Warehousing: MAS Freight Wave Terminal Ltd (a subsidiary of M.A.S. Consolidated Ltd) has been allocated land to develop a specialized warehouse supply complex. This supports the apparel & textiles and broader logistics sectors. • Financials: One-time lease payment of Rs. 305.99 million (payable in two installments) with an annual nominal rent of Rs. 90,000. • Strategic Context: The projects utilize a portion of the 400 acres of swampy land previously reclaimed by the Sri Lanka Land Development Corporation. These allocations represent a push toward high-value land use for BOI-approved private sector investments to drive economic growth and employment.