CIC’s Rs. 2 billion Agri-Investment to boost Sri Lanka’s economy
9th September 2017, Colombo, Sri Lanka’s long-standing leader in agriculture – the CIC Group – has elevated the country’s agriculture sector via futuristic investments amounting to over Rs. 2 billion, which are now infusing state-of-the-art technology into the industry, thereby making an enduring impact on the livelihoods of farmers.
Cropwiz, one of the country’s largest agriculture project to be resilient to seasonal weather patterns, is one such futuristic investment, which indicates the potential for protected agriculture at a time where changing weather patterns are wreaking havoc on the country’s agriculture and food production. The project, with an investment of approximately Rs. 1 billion – is an international Joint Venture and employs cutting-edge greenhouse technology which enables ‘climate smart,’ year-round production, mitigating impact of climate change.
The project employs automated climate control and fertigation systems, as well as hydroponics. The greenhouses are envisaged to be largely self-sufficient and sustainable in terms of water requirement – through the use of a rainwater harvesting water reservoir and state of the art techniques resulting in near-zero water wastage. The project has also generated substantial employment opportunities for area residents.
The Golden Harvest Project, another futuristic initiative with an investment of approximately Rs. 1 billion, which envisages increasing the productivity of corn farming in Sri Lanka substantially, is already making its impact felt in the local industry.
As part of the project two plants with a total dryer and storage capacity of 32,000 MT were constructed by CIC and these are already in operation. In addition, farming communities are provided training and expertise as part of the project, which has thereby enriched the lives of more than 13,400 farmers in Moneragala and Anuradhapura areas. The project also ensures safer inputs in the production of poultry feeds via the application of proper drying techniques.
As the only seed to shelf agriculture company in Sri Lanka that manages its own farm land, working directly with over 40,000 rural out-grower farmers and producing a variety of Agriculture & Livestock products such as Seed Paddy, Rice, Fruits, Vegetables, Eggs, Yoghurt, Curd etc. under its own Brand name for the local and export market, CIC Agri Businesses works with a strong commitment towards enhancing farmer incomes, improving the Rural Economy and contributing towards the Development of Agriculture in Sri Lanka.
“While we are charging ahead with these cutting-edge futuristic agri investments, we are also rationalizing our existing legacy businesses. These new investments need a new mind-set and acquiring new competencies, which is now being addressed via our 2020 Re-strategizing project with MTI Consulting” said Group MD Mr. Samantha Ranatunga while commenting on the matter.
About CIC Holdings PLC
CIC is a leading blue chip conglomerate in Sri Lanka with decades-long heritage. Its business portfolio extends into the areas of Agri Produce, Health & Personal Care, Livestock Solutions, Industrial solutions and Crop Solutions.