Bairaha to set up new broiler farm
Under new subsidiary:
Bairaha Farms PLC. signed an agreement with the BOI to set-up a large
scale, state-of-the-art broiler farm in a 48 acre land located in the
Puttalam District. This project will be set-up under a newly
incorporated wholly owned subsidiary company of Bairaha Farms PLC named
Nature's Best Industry Ltd.
Signing the agreement on behalf of BOI Chairman and Director
General Jayampathi Bandaranayake and on behalf of Nature’s
Best Industry Ltd Managing Director Yakooth Naleem |
Nature's Best Industry Ltd, will enjoy a ten years tax holiday from
the first year of making profit or not later than two years from the
date of commencement of commercial operation, whichever comes first.
This farm will be constructed in line with the prevailing norms and
standards of other reputable poultry companies in the world. The size of
each poultry house will be much bigger, and the specifications of these
buildings will be technically more advanced to enable to maintain
outstanding hygiene and cleanliness.
The expected investment in the first year will be nearly Rs 120
million and the total additional investments in the second and third
years will be Rs 240 million. Bairaha estimate that this project will
increase their commercial broiler production capacity by about 20
percent in the first year, about 20 percent in the second year and about
15 percent in the third year. Accordingly, depending on market
conditions the turnover of the company is also expected to increase in
those years.
The company has planned for the first batch of birds to come out of
this farm by April/May 2011. Once the farm in is operation, Bairaha
Farms PLC will be able to further consolidate its position in the
branded chicken market. Then, Bairaha Farms will be in a position to
make more packeted branded chicken available in the market, to be sold
at the price stipulated by the Government. |