Defence Ministry takes over Lanka Cement property in Jaffna

unnamedSri Lanka’s Defence Ministry has acquired a 104-acre block of land and buildings owned by state-run Lanka Cement Plc at Kankesanthurai in the northern Jaffna peninsula, the company announced on Tuesday.

In a statement to the Colombo Stock Exchange (CSE), Lanka Cement, which is a listed stock in the CSE, said it has requested compensation for the acquisition of the land and buildings. All staff, it said, would be retired under the state’s Voluntary Retirement Scheme.

No reason was given for the acquisition.