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DateLine Tuesday, 11 September 2007

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BOI signs agreements for two new projects

The Board of Investment of Sri Lanka signed agreements with Metropolitan Advanced Technologies and Screenline Embellishers for two new projects.

Chairman/Director Ge- neral Dhammika Perera signed the agreements on behalf of the BOI.

The agreement with Metropolitan Adva-nced Technologies is for a project to develop a smart card based driving licence as an IT enabled activity on BOT basis in part of the Department of Motor Traffic at Werahera. Speaking on the duration of the project Ivor Maharoof (Director/CEO) said the project would be launched in February 2008 and is expected to be for duration of seven years.

Responding to a question about the interaction with the BOI Maharoof said the BOI has been very responsive and responsible. J.J. Ambani (Chairman) and Mr. Ivor Maharoof (Director/CEO) signed on behalf of the company for the project worth US $ 7.4 million.

The project is expected to provide employment opportunities for 38 employees. The second project for Rs. 70 million was signed between the Screenline Embellishers and the BOI. The project is to undertake Screen Printing and Transfers for indirect export. Chairman, Carlo Thumbawila and Managing Director, Nishantha Kumara signed the agreement on behalf of Screenline Embellishers.

The project will be located in Pannala Divisional Secretary Division. Construction is due to start in October 2008 while it is scheduled to complete construction in December 2008. Thubawila said that the company is expected to commence services in January 2008. This venture will be providing job opportunities for 70 initially, and is expected to increase upto 250.

Speaking about the interactions with BOI Thumbawila said he was very happy with the improved and prompt service of the BOI.

 

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