BoI signs for two new projects

The Board of Investment of Sri Lanka signed agreements for two new projects generating an estimated 350 new employment opportunities. Total investment for the two projects would be US$ 1.8 million.

Ceylon Sapphire Corporation is a project to cut and polish gems and manufacture high value jewellery for the export market.

The US $ 1 million is an investment sponsored by Forbes & Walker Limited and Charles Edward International Jewellery Limited, Bangkok. The project located at Ratnapura is expected to provide employment for a workforce of 150. The company expects to export their products to Hong Kong and the European market. Director Thilan Wijesighe signed the agreement on behalf of the company.

The agreement signed with Miami Export Services Limited is for a project to provide services such as bulk fabric cutting, set cutting for applique/embroidery purposes, strip fabric matching and fusing for indirect export. This project is sponsored by Miami Exports Limited.

The venture is an investment of Rs. 90 million. The project will be located at Wadigala, Ranna and is expected to provide employment opportunities for 200. Construction of the factory has already started and their commercial operation is expected to start in six months.