Lanka Mineral Sands targets Rs. 10 b profit

by Ranil Wijayapala

The Lanka Mineral Sands Limited will increase its remittances to the Treasury to Rs. 10 billion by 2016, State Resources and Enterprise Development Minister Dayasritha Tissera said.

Minister Tissera said, Lanka Mineral Sands remitted Rs. 2.2 billion to the Treasury, as profits, in last year and the environment has been created to increase it to Rs. 3 billion this year and Rs. 5 billion in 2014.

The Minister said steps have been taken to set up two new factories for sand mining in Nayaru and Kokilai in the North.

The State Resource and Enterprise Development Ministry plans to attract investors to set up an industrial zone to produce value added goods based on the mineral sands.