BoI signs agreements for six new projects

The Board of Investment of Sri Lanka signed agreements for six new projects on December 20. The six agreements signed by the Board of Investment of Sri Lanka are for a total investment of an estimated US $ 5.52 million.

Odel Information Technology Services signed an agreement to provide IT Infrastructure Services for the local market.

The project sponsored by Odel Limited is an investment of US $ 250,000. The venture will be located at Rajagiriya. The project which has already commenced operations will initially provide software solutions to the companies of the Odel group.

The agreement signed with E-College Lanka is for a project to setup software for export. eCollege is a leading provider of an integrated, standards-based eLearning solution to the education industries. eCollege builds and supports online degree, certificate/diploma and professional development programmes.

The venture located at Colombo 01 is an investment of US $ 540,000 and will generate employment for 50. The company expects to commence operation in February 2008.

Samson Bikes, signed an agreement to manufacture and assemble bicycles for the export market. Construction of the facility has already been started and the company expects to start commercial production within three months.

The project would be manufacturing bicycles for a wide range of ages ranging from children to adults. European market was identified as a potential export market.

The venture sponsored by Samson Rubber Industries Limited is an investment of US $ 1 million. An agreement for a project to manufacture latching and hinging systems for export was signed with Industrilas Asia.

The US $ 250,000 venture is an investment from Sweden. The products will be exported to all the countries in the Asian region. The project is expected to generate 30 employment opportunities and will be located at Negombo.

Anverally International signed an agreement to manufacture value added tea for the export market. The US $ 2.98 million venture would be located at Colombo 15. The project is expected to create employment for a workforce of 40.

An agreement to manufacture instant liquid tea concentrates for the export market was signed with Aspic Bio Techniques. The product will cater the ready to drink ice tea market. The company expects to export the products to the markets in US, Europe,

Russia and Middle East. The venture sponsored by Aspic Corporation and is an investment of US $ 500,000.