BOI approvals for two projects
The Board of Investment of Sri Lanka granted investment approval for
ventures in manufacturing cooling equipment and an export trading house.
Chairman / Director General Dhammika Perera, signed the agreements on
behalf of the BOI and formally presented the BOI Certificate of
Registration to the investors.
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Chairman/ Director General of BOI Dhammika Perera, hands over
the BOI Certificate of Registration to Director of Lanka Cold
Chain (Pvt) Ltd. Stuart Shreeve. Mukthar Marikkar and Gail
Shreeve are also in the picture. |
Lanka Cold Chain (Pvt) Ltd to set up a venture to manufacture
polyurethane panels and related cooling equipment for cold and
refrigeration trucks. These cooling panels will be manufactured for
export and the venture will also manufacture cooling equipment for the
local market. The project is a joint venture between UK based Paneltex,
Sommers and Frostaire, Sri Lanka.
The venture is an investment of US $ 1.1 million and will establish a
state-of-the-art manufacturing plant. Directors of Lanka Cold Chain (Pvt)
Ltd, Stuart Shreeve and Mukthar Marikkar signed the agreement on behalf
of the investor. Ms. Gail Shreeve was also present at the occasion.
Panglobe ETH (Pvt) Ltd to set up an export trading house for a
variety of Sri Lanka products. The venture sponsored by Indian investors
will be located at Nikapotha. They will initially export Sri Lankan
spices.
Panglobe ETH will export the spices to US, European and Indian
markets. The venture will provide employment for 30 initially and will
commence commercial operations in two months. CEO Ramesh Narayanan said
that they hope to start value addition to the spice products in the near
future and that there is a big demand for value added spice products in
the European and US markets.
CEO of Panglobe E T H (Pvt) Ltd Ramesh Narayanan signed the agreement
on behalf of the company. |
