The Board of Investment of Sri Lanka signed an agreement with Rainbow Foods (Private) Limited. Dhammika Perera, Chairman / Director General, signed the agreement on behalf of the BOI and formally presented the investor with the BOI Certificate of Registration.

The agreement with Rainbow Foods is for a project to undertake deep sea fishing and processing of fish for the export market. The venture will be sponsored by Rainbow Engineering & Supplies.

The project will be utilizing 100 % local raw material and is expected to operate with a monthly turnover of US $ 1 million. Construction of the processing plant has already commenced and commercial operations are expected to start in 6 months.

The venture is an investment of US $ 545,000 and will create employment for an initial workforce of 20. The venture will be located at Dankotuwa.

Ms. K de Silva (Director) and N de Silva (Director) signed the agreement on behalf of Rainbow Foods.