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Approval given for BOI projects:
New investments from India and Hong Kong
The Board of Investment of Sri Lanka granted investment approval to
Stone Asia (Private) Limited and Metal Components Services (Private)
Limited. Chairman/Director General Dhammika Perera signed the agreements
on behalf of the BOI and presented the BOI Certificate of Registration
to the investors.
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Chairman/Director General of BOI
Dhammika Perera presents the Certificate of Registration to
the investors of Stone Asia (Private) Limited. |
An agreement worth an initial investment of US $ 1.2 million was
signed with Stone Asia (Private) Limited. The project will manufacture
polished and rough marble slabs in value added form for export. The
venture sponsored by Indian investors is expected to create employment
for a workforce of 50.
The venture will import rough marble from Europe, Italy, Spain and
Greece. Value addition will be done at a state-of-the-art manufacturing
plant located at the Mirigama Export Processing Zone. Managing Director
Ashutosh Sane said that the value added marbles would be exported to
markets in South East Asia and the Middle East. He said that the
products would also be provided to the local market since there is a
substantial demand locally.
Managing Director Ashutosh Sane and Director of Stone Asia (Private)
Limited, Anil Jain signed the agreement on behalf of the company.
Metal Components Services signed an agreement for a project to
manufacture metal components for the export market.
The venture is an investment of US $ 2.75 million sponsored by
investors from Hong Kong. The venture will manufacture custom made metal
components according to clients' requirements.
The production will be done at the manufacturing plant located at the
Katunayake Export Processing Zone that utilizes modern equipment
imported from Sweden.
Operations are expected to commence shortly and will mainly target
the European and US markets.
Chairman K.J. Westman and Director Veinert Holm of Metal Components
Services (Private) Limited signed the agreement on behalf of the
company.
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