Seven new BoI agreements signed

THE BOARD of Investment of Sri Lanka (BoI) entered into agreements with investors for seven new projects, worth approximately Rs. 400 million.

The agreement between the BoI and Manisha Polymers is for a project to recycle waste plastics and exporting it to the international market. The factory will be located in Dankotuwa and will generate over 300 new employment opportunities.

FAGA Tyres entered into an agreement with the BoI for a project to manufacture solid tyres for the export market. The factory will be located at Bandaragama and will generate 70 new employment opportunities. The initial investment for the project is Rs. 105 million.

With a Foreign Direct Investment (FDI) of Rs.36 million from Munich, Germany, Little Smile Organic signed an agreement for a project to cultivate and export spices, fruits and vegetables for export.

Cool Room Korea Lanka entered into an agreement for a project to set up a cold room at Kalpitiya. This is the second project launched by the company and the initial investment for the project is estimated at Rs. 35.5 million.

The BoI’s agreement with Antler General Industries is for a project to manufacture screen printing ink and additives for direct and indirect export. This is the fourth project launched by the company. The estimated investment for the project is Rs. 57.5 million and the plant will be located at Madapatha.

The agreement signed with Providence Business Services is to set up a Business Process Outsourcing (BPO) and Call Centre at Baseline Road, Colombo 9 with an investment of US$ 181,818.

The project will initially provide employment for 36.

BoI approval was granted for Exo Fresh for a project to set up an export trading housing for the rural sector to export locally manufactured non-traditionally agro-based products.