Another company controlled by Billionaire Harry Jayawardena, Sri Lanka’s Lanka Milk Foods (CWE) in a disclosure to Colombo Stock Exchange (CSE) recently informed that company had incorporated a Private Limited Company on 23rd July 2018 named United Diaries Lanka (Pvt) Ltd at Ambewela in Nuwara Eliya District.

The disclosure said that the scope of this new subsidiary is to rear 2,000 cows in 4 new cow barns and 2 ultra-modern milking parlours and the estimated investment is Rs. 2 billion. The filing added that the purpose of the new venture is to increase the quantity of good quality milk to be utilized in the production of Fresh Milk and Milk allied products of LMF focusing to develop marketing strategies to meet the ever increasing demand for Milk related products.

- Reporting By Devendra Francis