Rudo granted BOI approval

The Board of Investment of Sri Lanka (BOI) granted investment approval for Rudo (Pvt) Ltd. to manufacture exotic leather products for the export market.

Chairman/Director General Dhammika Perera signed the agreement on behalf of the BOI formally presented the BOI Certificate of Registration to the Directors of the company.

The US$ 280,000 Rudo Limited venture provides employment for a workforce of 150. The venture will manufacture exotic leather products including bags and accessories for European, US and Australian markets.

The company will set up a state-of-the-art production plant in Piliyandala. The production would be done using mostly imported leather while it will also use leather produced locally. The company will commence commercial operations in June 2010.