BOI signs agreements for agriculture and hospitality sectors

The Board of Investment recently signed agreements for two new projects involving banana exports and a luxury hotel cum spa.Watawala Agro Ltd, a project under Nipayum Sri Lanka 300 Enterprises Programme, is to establish a banana and other food crops’ plantation for the export market.

The bananas are mainly for export to the Middle East. The project will be sponsored by Watawala Plantations PLC and Fibredust LLC, USA and located at Nakiyedeniya Estate, Udugama, Galle.In the second agreement, a well reputed UK hospitality company is to set up a luxury hotel and a spa called “The Governors Lodge” located at Rathgama.