Chinese firm invests US $ 3.8 million on poultry venture

Hemanthi GURUGE

Daan International Agriculture Technology of China signed an agreement with the BOI to set up a poultry farm at Katugampola in Kurunegala the district investing US $ 3.88 million.

Daan International Agriculture Technology Executive Director Da'an Xu told Daily News Business that Sri Lanka sees a rapid growth in its economy and the company has seen a big opening in Sri Lanka.

The project will be carried out in three stages and over 50 employments opportunities will be generated at the first stage of the project. "We will start working after installing all machineries," he said. Thirty four acres of land in the Kurunegala district will be given for the project.

The fist stage of the poultry farm project will begin with the start of a hatchery and thereafter they will coordinate with local farmers.

Chicken meat will be produced in third stage of the project," he said.

They have already commenced another project in the Kurunegala district to manufacture construction related materials investing over one million US dollars.

They are planning to commence agriculture projects too.