BOI investments exceed Rs 250 m this year

Harshini Perera

Direct investments received by the Board of Investment (BOI) for the first three months of this year amounted to US $ 250 million. The total investments for 2009 was US$ 602 million. The Horana Export Processing Zone has been able to attract direct investments of US $ 57.15 million with the establishment of nine new companies.

Investors with BOI Chairman Dhammika Perera. Picture by Saliya Rupasinghe

It is expected that the companies will generate 1,221 employment opportunities at the Horana Export Processing Zone (HEPZ), Board of Investment (BOI) Chairman, Dhammika Perera said.

“The BOI targets US $ 5 billion worth Foreign Direct Investments(FDI) for the next six years and expects to generate 80,000 new employment opportunities,” Perera said.

The HEPZ which is in the Kalutara district commenced operations in November 1999; it is located 50 kilometres from Colombo on a land area of 385 acres.

The HEPZ is equipped with a complete road network, power supply, treated water supply, telecom facilities, water treatment plants, waste water treatment plant and security services.

Eleven companies have started their commercial operations at HEPZ with a total investment of US $ 54 million.

These enterprises provide employment to 1,623 workers at present. These enterprises are involved in the manufacture of garment accessories, essential oil, plastishell products, non ferrous metal recycling, MDF boards, electric power generators and glassware.

“The investors for the zone are from various countries including Sri Lanka, India, Malaysia and three joint venture companies consisting of India/Singapore, Finland/India/Sri Lanka and India/Sri Lanka,” Perera said.

The utilized industrial area out of the total industrial area is about 82.4 acres, only 27.96 acres is vacant at present.