Investments total Rs. 112 million:

BOI agreements signed for exports

The Board of Investment had entered into three agreements with investors. These new projects are for cultivation and processing of nelli fruit and other fruits and vegetables for export, the manufacture of garments and bags for export, and the processing of jellyfish.

The Agreements were signed by Chairman/ Director General of the Board of investment of Sri Lanka, Dhammika Perera on behalf of the BOI, and Dr Sarath Amunugama Minister of Enterprise Development and Investment Promotion formally presented the Agreement documents to the investors. Details of the projects are as follows:

One project will engage in the cultivation of Nelli and other fruits for export. The investors are S.H Jayasena and Mrs G. Barber. This is an investment of Rs 25 million that will employ 30. A total of 70% of the production will be exported. The location of the project will be in Galadhigalandehena in Badulla.

Jayasena said that nelli is a very beneficial fruit as it is used for Ayurveda medicine. He has imported nelli clones from India. Nelli is used to be very popular in Sri Lanka and it is found in the ancient medicinal forests but the local variety has degenerated unlike the variety found in India.

The purpose of this project is therefore to build up the local variety of nelli as well as other indigenous fruit and vegetables. Jayasena added that he is working very closely with Peradeniya University and the Ayurveda Department.

Project is for the manufacture of garments and bags. Managing Director Senaka Kumara and Director Ranjan de Silva, signed the Agreement. The new project is an investment of Rs 62.8 million that will employ 850 workers.

This company is engaged in the manufacture of bags and garments. It supplies many of the leading brands for overseas notably in the USA and UK.

The parent company has functioned for 12 years as a BOI enterprise. Commending the service offered by the BOI, Senaka Kumara said that approval was granted very quickly and asked for more meetings between the authorities and the investors at the Biyagama Export Processing Zone, where the new project will be located.

Seagull Impex is a company that is engaged in exporting jellyfish for the Chinese market. A Baskar signed the agreement on behalf of the company. This is an investment of Rs 25 million that will employ 210 workers at capacity.

Jellyfish is caught mainly from the Hambantota district, processed with salt for their tentacles and other parts to thicken and packaged for export.

Speaking on this project, Dr Amunugama stated, “There is considerable demand for jellyfish and other forms of seafood from Sri Lanka to China and Far East”.

The variety of jellyfish harvested is not a dangerous type, though if it is touched it may cause mild itching. However when it is processed with salt and other ingredients this effect is neutralized. Jellyfish are seasonal and the peak period when they are caught is from April to September.

Baskar said that during this season as much as 10-25 tonnes of jellyfish might be caught daily.