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Phase One of the Rs. 100 million Oyatsu Lanka (Pvt) Ltd, a joint venture between Japan and Sri Lanka to manufacture biscuits was opened last week at Weliweriya.

According to the Chairperson of Oyatsu Lanka (Pvt) Ltd, Sahida Hettiarachchi the first phase of this Board of Investment (BOI) approved project, has cost the management Rs. 45 million. "We will invest the balance Rs. 65 million next year."

She said that 75% of the investment is from Sri Lanka while the balance is from Japanese investors.

She said that the project has already generated employment opportunities for 60 people and when the project is full operational it will create direct job opportunities for nearly 1,000 people including the area dealers.

She said that they initially introduced four main flavours under the brand name Sunbix and the products are already in the market. "We will be targeting the Colombo city first and later the entire island. The company is aiming to be among the top three biscuit manufacturers soon."

"Our ultimate aim is to introduce 15 brands and we are also targeting an export market in Japan, Middle East, Bangladesh and the Maldives."

Minister of Indigenous Medicine Sarathchandra Rajakaruna said that there is a major untapped herbal product market in Japan. "The Japanese people have been using western medicine for Diabetes but have found that there are side effects and they are now switching to herbal treatment."

He said that the Malaysian government too has recognised the importance of herbal products and is in the process of growing herbal trees in over 25,000 acres. The Minster said that last year the global herbal market had a turnover of 250 million US dollars and this amount is steadily increasing.

He appealed to the Oyatsu Lanka management to consider producing herbal products for the international market.

Oyatsu Lanka (pvt) Limited was incorporated in October 2002 as a Japanese joint venture approved by the BOI to manufacture biscuits for the local and foreign markets.

The company began its operations in January with a staff of 60 and their products will be available from this month.

Minister of Trade and Consumer Affairs, Ravi Karunanayake was the Chief Guest at the opening ceremony. ss

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