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Company Formed to Support Sri Lanka's Poultry Sector

by 5m Editor
24 February 2012, at 8:33am

SRI LANKA - The Sri Lankan cabinet of ministers has given approval to establish a fully state-owned company to support the country's poultry industry.

Acting on a proposal put forward by the Minister of Livestock and Rural Community Arumugam Thondaman, the cabinet has approved the forming of Sri Lanka Poultry Development Company (Pvt.) Ltd.

According to ColomboPage, the National Livestock Development Board (NLDB) will purchase 49 per cent of the shares of Sri Lanka-Libya Agricultural and Livestock Development Company Ltd (LANLIB), a Sri Lanka - Libya joint venture to form the new company.

LANLIB is a joint partnership company established in 1981 with 51 per cent of the shares owned by the NLDB and 49 per cent by Libya to carry on agricultural and livestock projects in Sri Lanka.