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Friday, 21 October 2011

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Three BOI ventures invest US $ 6 m

Three Sri Lankan companies yesterday signed agreements with the Board of Investment to commence three separate projects investing over US$ six million.

Over 1,000 new employment opportunities would be created.

The BOI spokesman told to the Daily News Business that those three companies are Kent Poultry Farm, Lanka Garments Bibile and T&G Lanka.

The Kent Poultry Farm has signed an agreement with BOI to begin poultry farm at Badalgama, Naiwala and Pannala investing US$ four million. The Kent Poultry Farm is engaged in poultry and chicken processing.

The company operates a breeder farm, hatchery and chicken processing farm. The intention of the project is to produce high quality chicken for the local market.

Almost 350 to 400 employment opportunities will be generated by this project. They are looking at exporting broiler chicken to the European countries.

Lanka Garments Bibile also signed an agreement with the Board of Investment yesterday to manufacture garments for export. The company will invest US$ 1.2 million for the project.

The factory is likely to generate direct employment to 550 persons initially.

T&G Lanka signed an agreement with the BOI to manufacture fiber optical cables investing US$ one million. They are also looking at exporting cables for the international market.

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