IFCO is setting up Rs. 600 million food processing and freezing factory in Homagama

The International Foodstuff Group of Companies (IFCO) is planning to invest Rs. 600 million for the construction of a food processing and freezing factory in Homagama and seven agricultural projects to cultivate 2,000 acres.

The construction of food processing plant is progressing and it is expected to be ready by next April.

The National Development Bank would provide 50 % of the funding and the remaining would be profits generated from the company.