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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