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| Wednesday, 24 March 2004 |
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Hi tech garments washing to generate 250 jobs ALT Freshtex Garment Finishing Colombo (Pvt) Ltd recently signed an agreement with the BOI to set up a technologically advanced garment washing plant providing washing and finishing facilities exclusively, to export oriented garment manufacturers in the country. The company has taken over the laundry unit of Dial Textile Industries Ltd at Katunayake with an investment of over Rs 130 million, by the ALT Group of Germany. Desmond Fernando PC, Director ALT Freshtex stated that the company would provide state-of-the-art washing and finishing facilities for highly competitive products, and that it would serve as a great boost to the local garment industry enabling the reduction of delivery times and resulting in more effective backward integration, to meet the abolition of quota in 2005. He added that the project would create over 250 jobs within its first year and would begin operations by October 2004. Located at the Katunayake EPZ, the company plans to service all the major buyers in the US and European markets via local garment exporters. |
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