BoI signs agreement for new projects

The Board of Investment of Sri Lanka signed agreements for three new projects to the tune of over Rs. 10 million yesterday.

An agreement to set up a Business English Training Institute was signed with Honors Club Institute (Private) Limited. The project worth US $ 850,000 will be sponsored by Chundo Travel Co. Ltd. and is expected to provide 40 employment opportunities.

The training institute located at Porutota, Negombo will consist of 15 classrooms with 15 tutors. The training institute will provide Business English Training for Korean Students.

CEO, Chundo Travel, Michael Choi said that Sri Lanka is the best English speaking country in the Asian Region and it is the best place to locate the training institute for the Korean Students.

Inmine Calcite (Private) Limited signed an agreement to manufacture value added calcium carbonate for the local market.

Inmine Calcite (Private) Limited will use the locally available Calcite rocks and manufacture calcium carbonate for industrial usage. The construction of the factory is in the final stages and will be ready for commercial production in January 2008.

The Rs. 53 million project located at Nadungamuwa, Rajawaka, Balangoda is expected to provide employment opportunities for 200.

Director cum General Manager, Chaminda Wimaladasa and Director, Tharindu Meemaduma signed the agreement on behalf of Inmine Calcite (Private) Limited. An agreement to grow and export foliage was signed with McCallum Nurseries (Private) Limited.

The project worth US $ 150,000 will be located at Keragala and is expected to provide employment for 75. Chairman, Indeera Ukwatte signed the agreement on behalf of McCallum (Private) Limited.

Dr. Sarath Amunugama, Minister of Enterprise Development and Investment formally presented the Certificate of Registrations to the Investors. Chairman/Director General Dhammika Perera signed the agreements on behalf of the BOI.