BOI signs agreements worth US$ 19.4 mln in October

The Board of Investment of Sri Lanka this month has so far signed 14 agreements at a total value of US$ 19.4 million. These projects cover a wide range of sectors such as the manufacture of gloves, ready-made garments, waste management, IT, dairy projects, poultry farming, and the milling of rice. In addition, once they are operating, these projects will generate an estimated 1,525 new employment opportunities, the BOI said.

Agreements signed last week were:

• Golden Feeds (Private) Ltd - An Indian investment worth US$ 900,000 to manufacture poultry premixes for export. It will be located at Liyanagemulla.
• Thara Textiles (Private) Ltd - to produce readymade garments for the US and UK export markets. The company is an Indian investment of Rs 67.2 million that will employ an estimated 310 workers and located at Palavi, in Puttalam.
• Lucky Lanka Milk Processing Company Ltd - to set up a milk processing plant. Products will be for the local market and will include yoghurt, sterilized and pasteurised milk.
  It will be located at Bibulewela, Karagoda, Uyangoda, in the Matara District.
• Five Star Rice Mills (Private) Ltd - to set up a modern rice mill using the latest technology. It will be starting operation in March 2008. The mill is an investment of Rs 287.9 million and it will provide employment for 45 workers at Puliyankulama, Vijithapura.
• I-Source Infosystems Lanka (Private) Ltd - will provide IT and telecommunications related infrastructure facilities for the local market. It is an Indian investment of US$ 150,000 to design, install commission and manage IT infrastructure and also offer remote manager services in network security, application management and server management.
• Jacqqaline Clothing (Pvt) Ltd - will be engaged in the manufacture of garments for the US and EU markets. The company will be located at Katuwawala, Boralesgamuwa.