French investment shows investor confidence
The Board of Investment of Sri Lanka (BOI) granted investment
approval to Phytosynthese Lanka (Pvt) Ltd, to set up a project related
to medicinal plant cultivation. Chairman/Director General Dhammika
Perera signed the agreement on behalf of the BOI and presented the BOI
certificate of registration to Phytosynthese, France Managing Director
Thierry Picaud. Commercial Counsellor of France Bruno Viviezi
represented the French Embassy at the signing.
BOI Chairman/Director General Dhammika Perera presents the BOI
Certificate of Registration to the investors of Phytosynthese
Lanka (Pvt) Ltd
Phytosynthese Lanka signed the agreement to set up a project to
cultivate medicinal plants and extract plant based medicinal compounds
for export. Phytosynthese Lanka will be engaged in the cultivation of
turmeric in the Eastern Province. The compound extracted from turmeric
is high in medicinal value and is used as an ingredient to manufacture
the animal care products.
An initial investment of Rs. 25 million on the company provides
employment for 40 at initial stages. The venture will initially commence
operations with the outgrow farmer model with the assistance of local
authorities, providing aid to farmers of the area to cultivate turmeric.
The company also expects to set up a state-of-the-art extraction plant
to extract the medicinal compound from the turmeric.
Picaud said “Sri Lanka inherits a history of traditional medicine and
the venture will help expand trade relations between France and Sri
Lanka”. He said the company will later invest in the development of
irrigation systems and high technology extraction plants.
“Phytosynthese, France is a leading manufacturer of natural medical
products for animal health care. The products manufactured by the
company are exported to 45 countries including markets in Europe, US,
Canada, Japan and Brazil” said.
Phytosynthese Managing Director Thierry Picaud and Director Pasan
Mendis signed the agreement on behalf of the company.