MoU Signed to Establish Laboratory with $15 Million Investment

16-Jul-2025

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An MoU has been signed at the Presidential Secretariat between the American company STEMedical and the Sri Lanka Institute of Biotechnology (SLIBTEC) to establish an internationally accredited laboratory.

This $15 million investment project will be implemented under the guidance of the National Innovation and Research Development Commercialization (NIRDC) approach.

On behalf of STEMedical, its founder Prof. Hans Keirstead, and on behalf of SLIBTEC, Chairman Prof. Samitha Hettige and CEO Amali Ranasinghe signed the agreement.

There has been a long-standing need to enhance the capacity of internationally accredited laboratories in Sri Lanka to conduct testing in various sectors, including health, agriculture, cosmetics, Ayurveda, and import/export industries.

Speaking at the event, Prof. Gomic Udugamasuriya, Senior Advisor to the President on Science and Technology, stated that today marks a special day for Sri Lanka, emphasizing that accreditation is vital for a nation.

He stressed the importance of such a laboratory project to help achieve the government’s target of doubling export revenue by 2030.

The laboratory is expected to function as the main facility in collaboration with laboratories across the country to ensure the quality of products and services in multiple sectors.