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| Wednesday, 14 July 2004 |
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BOI signs new Investment Agreements The Board of Investment of Sri Lanka (BOI) set up as a single point of entry for Foreign Direct Investment (FDI) plays a vital role in attracting investors into the country. The BOI signed five new main agreements and four supplementary agreements on July 8. The new Chairman/Director General of the BOI, Saliya Wickramasuriya signed these agreements. La Fortress (Pvt) Ltd has signed an agreement to set up a 45-roomed boutique hotel at Koggala with an investment of Rs. 380 Million and will employ 109 people. Conoiseur Electronics Lanka (Pvt) Ltd will set up a project to manufacture computer hardware components including computer chips for export. This project is a Sri Lanka India joint venture. Viking Fashion (Pvt) Ltd, a garment factory has signed an agreement to obtain BOI status under the Harmonisation program. Ceylinco Real Estate Developers Ltd, has signed an agreement to construct 150 housing unit with infrastructure facilities. The investment on this project at Andagala Estate, Kurunegala is Rs. 255 Million while its employment potential is estimated at 713 people. Fulgar Lanka (Pvt) Ltd will set up a project to manufacture nylon-textured yarn for export. The Sri Lanka - Italy joint venture project will in the Katunayake Export Processing Zone and will invest Rs. 792 Million and the employment potential is around 64. Four supplementary agreements have been signed with BOI projects for expansion of their present operation to a manufacturing base. These five expansion agreements include ICC Housing (Pvt) Ltd, Kramski Lanka (Pvt) Ltd, Hang Sung Kola Thread (Pvt) Ltd and Lanka Marble Industries (Pvt) Ltd. |
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