CIC invests Rs2 bln in Sri Lanka’s agriculture, new technology

Sept 11, 2017 (LBO) - Sri Lanka’s agriculture company CIC Group says it is elevating the country’s agriculture sector with investments amounting to over two billion rupees. State-of-the-art technology is being infused to improve livelihood of farmers, with projects such as Cropwiz, to improve resilience to seasonal weather patterns. The project, with an investment of approximately one billion rupees, is an international joint venture and employs greenhouse technology with 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 company said. The Golden Harvest Project, with an investment of approximately one billion rupees, envisages increasing the productivity of corn farming in Sri Lanka. 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. CIC is 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, the company said. “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 Samantha Ranatunga. 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.