Dutch electronic giant invests in Sri Lanka

by Sarath Malalasekera

The market leader in high electronic digital connecting accessories in the Netherlands, Bandridge NV, will be manufacturing and distributing its products range based in Sri Lanka from next year.

Dutch Lanka Electronic Accessories (Private) Limited (DLEA) and Bandridge Lanka Logistical Centre (Private) Limited (BLLC) signed agreements with the Board of Investment (BOI) Sri Lnaka to manufacture of connecting leads digital, Audio, Video and Communication computer applications.

Sri Lanka Director S.P.C. Kumarasinghe and BOI Chairman Lakshman Watawala signed the agreements. The total investment for the project is US Dollars one million. Eighty percent of the investment will be provided by the Euro Channels Holdings BV, the Holding Company of Bandridge NV.

The Netherlands Ministry of Economic Affairs will grant fifty-percent of the investment of DLEA under the Programme for Emerging Market.

Business activities will operate from two acre land at the Free Trade Zone (FTZ) area in Biyagama. DLEA's Primary objects is to carry on the business of manufacturing, assembling electronic, electrical and technological accessories and all other items of a similar nature and essentials for such items for the export market, Kumarasinghe said. The manufacturing process is lead free and environmentally friendly.

Only tin, silver, bismath and copper is used.

"Bandridge, an internationally known name, will establish an Export Trading House, Bandridge Lanka Logistical Centre, to carry on the business of imports and exports of electronic accessories" he said.

The idea is to shift their main wear house in Netherlands to Sri Lanka in order to function as a Bandridge hub to pack and export above items to Bandridge dealers all over the world, specially in South Africa, Brazil, Middle East and Australia.

"The turnover target for the first year is expected to be US Dollars five million," Kumarasinghe said.

"Our intention is to keep it with the "Mahinda Chinthanaya" and provide employment to over 300 young school leavers in Sri Lanka in the first stage, he said.

Highly qualified Dutch experts will train Sri Lankans at DLEA in manufacturing process of Bandridge products in Sri Lanka. On the success of this manufacturing facility DLEA hope to establish more factories in the other parts of Sri Lanka to increase its products range. "We have the potential to provide thousands of employment opportunities to Sri Lankans, Local Director Kumarasinghe said.

BOI Director Dr. Bandula Perera and another local partner Mangala Jayasinghe and Manager Arjuna Amuhengoda also participated at the ceremony of signing the agreements held at the BOI office.