Three more foreign investors for MAS Fabric Park

Ravi Ladduwahetty

The MAS Apparel Group is currently negotiating with three more international manufacturers to set up three factories within its Thulhiriya Fabric Park.

Negotiations are going on for the setting up of a dyeing and finishing plant and the other two will be fabric plants, MAS Fabric Park (Pvt) Ltd Chief Executive Officer (CEO) Dulindra Fernando told Daily News Business yesterday.

These include an Indian party and the other two will be European parties, he said and added that the total investment figures have not been finalised yet. "We are in the process of negotiations which will be finalised soon where the investors have to only renovate the buildings which were once used by Thultex," he said.

Meanwhile MAS Fabric Park's Chief Operating Officer (COO) Lalith Samarawickrema said the park had 600,000 square feet of building space available and would be around 90% full when the three new investors commence their projects.

"There are also two more industrial plots available for which the Park company is negotiating with a local party for the establishment of another fabric manufacturing facility", he said.

The four factories which have already been established at US$ 32 million are MAS Intimates Thuruliya which manufactures dedicated garments was launched by Sir Stuart Rose on April 25.

The second Dogiefa (Pvt) Ltd which was opened on October 19 last year manufactures warped knit fabric. The third- Textprint Lanka Ltd which does garment printing has already completed its test runs and will be launched soon.

The second and the third are Sri Lankan - Spanish joint ventures. The fourth is BAM Knitting Ltd, a 100% Sri Lankan owned firm which was opened on March 1.

The MAS Group is committed to the cause of Corporate Social Responsibility. The Group has already a programme called "Eco Go Beyond" which is on environmental sustainability in partnership with three schools of the area. It will be building a leisure and commercial complex on the Kurunegala Road which will have supermarkets and a bank.

It will also build a 25 metre eight- lane swimming pool, a gymnasium, a cricket Academy with turf wickets for its 1500 employees and the people of the area before the end of 2008.