Sri Lanka, Dec. 17 -- Sri Lanka's sugar market will receive a boost with the final leases for the Kantale Sugar Factory to be signed and handed over to MG Sugar.

MG Sugar is owned 51% by the government and 49% by Moussy Salem and Mendel Gluck, representing SLI who have invested years into developing a world class team. The investors have developed all engineering design, the teams are instructed, and the plans are set for implementation.

All that prevents the initiation are the final leases; as soon as these are signed and handed over, the teams will mobilize and works on site will begin.

The landmark project will have a 27.5 MW maximum capacity cogeneration plant from biomass, with an export of 10 MW to the National Grid. The factory ...