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Hong Kong investment for Katunayake
Expressway
BOI approves garments for EU and agriculture in Monaragala
Hong Kong investment for Katunayake Expressway
The Board of Investment of Sri Lanka (BOI) granted investment approval to Dah Fung Enterprise China (Private) Limited for a project to produce quarry material.Dhammika Perera, Chairman / Director General signed the agreement on behalf of the BOI and formally presented the BOI Certificate of Registration to Jinzhong Xiao, Director of Dah Fung Enterprise China (Private) Limited.
The venture is an investment of Rs. 75 million, sponsored by Dah Fung Enterprise (China) Limited, Hong Kong. The project will produce quarry material required for the Colombo – Katunayake Expressway project. The venture is expected to produce around 60% of the total quarry requirement of the expressway. This project under Nipayum Sri Lanka 300 Enterprise Programme will be located in Pannala and will be providing employment for 100.
UK Investment in apparels
BOIalso granted investment approval for Claudia International Limited to set up a project to manufacture garments for export.Dhammika Perera, Chairman / Director General signed the agreement on behalf of the BOI and formally presented the BOI Certificate of Registration to Michael Moniatis Chairman of Claudia International (Pvt) Limited.
The venture will be operating a garment manufacturing plant in Boralesgamuwa and will be providing employment for over 500 workers with an investment of over US$ 1 million. Products manufactured will be exported to the European Market and Ladies Fashion blouses and skirts will be the main products manufactured by the company.
Michael Moniatis has extensive experience in the apparel trade having been involved in manufacturing, design development, marketing, supplying to leading European retailers and running his own store group in the UK. His intention is to improve the design capabilities in Sri Lanka which will be an advantage in securing orders from leading European Buyers. To achieve this purpose he together with his UK Company will share the vast expertise they have in this area.
Agriculture in Monaragala tobe developed
Another project approved was for Pure Nature Limited to set up a project to cultivate and process fruits in Havampitiya, Monaragala.Dhammika Perera, Chairman / Director General signed the agreement on behalf of the BOI and formally presented the BOI Certificate of Registration to the Investors.
The venture is an initial investment of Rs. 75 million, sponsored by Norwegian Investors. The project which will be based on the out-grower farmer model will initially provide employment for 200 out-growers. The venture expects to expand operations to an investment of Rs. 200 million providing employment for 1000 out-grow farmers in Havampitiya, Monaragala.
The agri-forestry project would focus on growing Maize as the main crop while growing seasonal crops such as Sesame and Soya. A plantation will also be established on a 25 acre land. He also stated that Maize has a high local demand and that the company expects to export to the European and US markets.Arne Fiortort and Arjuna Dissanayake, Directors of Asia Plantation Capital signed the agreement on behalf of the Company.
