Business
Sri Lanka to target 322 new products for export in 2024 with focus on spices
By Ifham Nizam
Sri Lanka will target at least 322 new products at export level in 2024. “That would be our target in the ‘One Village One Product’ project, said State Minister of Investment Promotion Dilum Amunugama.
Speaking at a United Nations Industrial Development Organization (UNIDO)- organized conference titled, “Spice Horizons: Tracing the Legacy of Protected Geographical Indication (PGI) on Ceylon Cinnamon and the Future of Other PGI Products for Agricultural Export Development” on Tuesday at the Water’s Edge, he thanked the European Union, UNIDO and the United Nations for support in investment promotion and overall assistance to Sri Lanka.
Highlighting Sri Lanka’s spices and the sector’s potential for export opportunities and trade development, Amunugama said that due to the inherent quality of Ceylon spices, the sector has the potential to enhance value addition, meet the demands of international high end markets and promote technology adaptation.
The event, organized with support from the Delegation of the European Union in Sri Lanka and the Maldives and the Standards and Trade Development Facility (STDF), will build on the success of Sri Lanka’s first ‘Protected Geographical Indications for Ceylon Cinnamon’ project (PGI) with the European Union (EU), he noted.
At the event, UNIDO also presented a new project proposal to expand the global reach of Ceylon spices and other agricultural commodities with PGI potential, such as pepper, coffee, pineapple, coconut and cashew, where the PGI Ceylon Cinnamon model can be replicated and scaled up for quality-led export development.
Institute of Policy Studies of Sri Lanka, Research Economist Dilani Hirimuthugodage, a panelist at the discussion, speaking to The Island Financial Review: “I think it is important for them to also focus on strategies to attract youth to agriculture mainly to the spice sector by giving them proper training and identity (make their self-esteem), strategies to strengthen the spice value chain with good linkage among each stage mainly to avoid asymmetry in information, encourage new technology by introducing smart agriculture, promote and market Ceylon GI, etc. are some of them.”
“The EU has worked with UNIDO on several projects in Sri Lanka supporting the agri-food sector. We are happy to see tangible outcomes such as the Ceylon Cinnamon PGI materialize, stated Dr. Johann Hesse, Head of Cooperation for the EU Delegation to Sri Lanka and the Maldives. “The proposed project will build on the success of the EU-funded ‘Best Standardized Practices for the Agri-by Food Sector Development’ (BESPA-FOOD) project, implemented by UNIDO jointly with the Food and Agriculture Organization (FAO).”
The proposed project will draw on UNIDO’s 2023 ‘Value Chain Analysis on Pepper, Clove, and Nutmeg in Sri Lanka’ also funded by the STDF, which identifies the gaps in food safety and quality, starting from farmgate to distribution on channels and right up to the retail market. The analysis outlines the necessary conditions to access international markets and gain a competitive advantage in international trade.
Dr. Jairo Villamil-Diaz, International Senior Technical Specialist, UNIDO said, “UNIDO worked closely with the Department of Export Agriculture (DEA), the Export Development Board (EDB), the Spice Council (TSC), the Spices and Allied Products Producers’ and Traders’ Association (SAPPTA), and other key public and private stakeholders, tirelessly striving to secure the PGI registration for Ceylon Cinnamon. We also provided similar support for Ceylon Tea. Now, Sri Lanka can leverage these learnings to ensure that other spices, like pepper, cloves, nutmeg/mace, and coffee become integral parts of the global food supply chain.”
In collaboration with the Ministry of Agriculture and Plantation Industries, Ministry of Industries, and State Ministry of Investment Promotion, the proposed project will guide Sri Lanka’s agricultural sector towards quality-led export growth, supporting upstream actors in securing quality-based price differentials, improving price predictability and expanding access to premium markets. Additionally, UNIDO will continue to support the development of Ceylon Cinnamon, providing strategic guidance to further enhance the sector’s global standing, including in securing PGI registration in other high-end markets.
Business
Lanka’s largest solar park set to transform energy landscape and local economy in Hambantota
A new era in Sri Lanka’s renewable energy is unfolding in the Gonnoruwa Division of Hambantota District, where construction has begun on the country’s largest solar power park. Spanning 450 acres and designed to generate 150 megawatts (MW) of electricity, the US$150 million private-sector-led project is poised to become a cornerstone of the nation’s sustainable energy ambitions.
Officials say the solar park, guided by the Sustainable Energy Authority and the Mahaweli Authority, will make its first contribution to the national grid by the end of this year, with full capacity expected by 2026. Once completed, the facility will rank among Sri Lanka’s largest renewable energy installations, second only to the 210 MW Victoria Dam and the 150 MW Upper Kotmale hydropower project.
The initiative is being framed as a strategic response to recurring power cuts in the Southern Province during annual drought periods. With a projected 20% contribution to the country’s daytime electricity demand, the solar park is expected to significantly stabilize the grid, reduce reliance on fossil fuels, and contribute to the country’s renewable energy targets.
Project Engineer Thilanka Bandara confirmed that preliminary land preparation and boundary works have been completed, with 50 MW already feeding into the national grid. The investment, fully funded through foreign direct investment, local bank loans, and equity capital, requires no government funding. Two private firms are sharing the development, contributing 70 MW and 80 MW respectively.
Bandara highlighted a unique feature of the project: the transmission infrastructure, estimated at US$16 million, is entirely financed by the investors, marking a departure from conventional grid-connected projects. The park will also employ state-of-the-art ground-mounted solar technology, considered the most advanced currently deployed in Sri Lanka.
In a first for Sri Lanka, the solar panels will be installed five feet above the ground, allowing partial-shade crops to be cultivated underneath. Technical Officer Sithmina Bandara explained that this setup will enable the cultivation of food plants such as mushrooms, which thrive in shaded conditions, creating a model for integrated solar-agriculture systems. Agricultural experts have already provided guidance on implementing this initiative, which combines energy production with local food security.
The project is expected to generate 750 to 1,000 direct and indirect jobs, with 400–500 already employed in the initial phase. Long-term maintenance work will provide further employment opportunities, offering a substantial economic boost to the Hambantota region. Environmental management measures are also in place to prevent elephants from entering nearby villages, ensuring harmony between development and wildlife.
All necessary approvals and permits were obtained by February 2025, aligning the project with the Ceylon Electricity Board’s national generation plan. Officials confirmed that upon completion, the total output of the Solar Energy Park will rise to 200 MW, combining existing installations with the new 150 MW facility.
Experts say the Hambantota solar park represents more than just a power generation project. Its innovative design, private-sector financing, and integrated agricultural approach position it as a template for future renewable energy projects in Sri Lanka, reflecting a new model of sustainable development that balances energy, economy, and environment.
By Sirimanta Ratnasekera
Business
ESU Kandy clinches dominant victory at ‘Battle of Esoftians’
The Battle of Esoftians, an annual cricket encounter organized by ESOFT Uni Kandy, concluded with a spectacular display of cricketing prowess as the Kandy team secured a massive 245-run victory over ESOFT Metro Campus, Kurunegala. The match was held on the 15th at the University of Peradeniya Grounds.
Winning the toss and electing to bat first, the ESOFT Uni Kandy batsmen dominated the field from the outset. They showcased an explosive batting performance, posting a formidable total of 280 runs for the loss of 5 wickets in their allotted 20 overs.
In response, the Kurunegala ESOFT Metro team struggled against a disciplined bowling attack. The Kandy bowlers dismantled the opposition’s batting lineup, bowling them all out for a mere 35 runs, sealing a historic win for the Kandy campus.
The event was graced by the presence of key officials from the ESOFT management: Amila Bandara – Chief Operating Officer (ESOFT Uni), Dimuthu Thammitage – General Manager (Central Region), Lakpriya Weerasinghe – Deputy General Manager, ?Lahiru Diyalagoda
Centre Manager-Degree Division, ESOFT Metro Campus Kurunegala and Dushantha Sandaruwan – Master in Charge (ESU Kandy Cricket Club)
Team Lineups
ESOFT Uni Kandy (Winners)
Chamath Ekanayake (Captain), Dinuka Tennakoon (Vice Captain), Dushantha Sandaruwan (MIC), Chalitha Rathnayake, Pulasthi Bandara, Isuru Dehigama, Kesara Nuragoda, Aadhil Sherif, Isuru Pannala, Achintha Medawatta, Ahamed Shukri, Gowtham Hari Dharshan, Danushka Sahan, Eranda Bandara, and Damith Dissanayake.
ESOFT Metro Campus Kurunegala (Runners-up)
Adeesha Samarasekara, Savishan Madusha, Lahiru Diyalagoda, Hirun Damayantha, Naveen Madushanka, Daham Pothuwewa, Senuda Thewnaka, M.R. Abdulla, Arunodya Dasun, Mohamad Afri, Desith Perera, Lasitha Ranawaka, Anton Dilon, Shenuka Thirantha, and Kavindu Bandara.
Text and Pix By S.K. Samaranayake
Business
HNB joins Royal–Thomian “Battle of the Blues” as official banking partner
HNB PLC, Sri Lanka’s leading private sector bank, has joined as the Official Banking Partner for the 147th edition of the historic “Battle of the Blues,” the Royal–Thomian cricket encounter between Royal College, Colombo, and S. Thomas’ College, Mt. Lavinia. Commenting on the partnership, HNB’s Managing Director/CEO Damith Pallewatte highlighted the bank’s long-standing connection with cricket, including sponsorship of Sri Lanka’s first Test match against England in 1982, and emphasized HNB’s commitment to nurturing young talent and promoting school cricket. The three-day clash for the Rt. Hon. D. S. Senanayake Memorial Shield will take place from March 12–14 at the SSC Grounds, with the Mustangs Trophy one-day match following on March 28 under lights. HNB’s inaugural involvement marks a milestone in the bank’s sports marketing journey, strengthening its role in the school cricket ecosystem. The bank will enhance the spectator experience by introducing digital and cashless banking solutions, modernizing the event while preserving its rich heritage and sporting tradition.
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