BoI approves cluster of projects

Chamikara Weerasinghe

Sri Lanka Board of Investment has approved a cluster of nine investment projects worth Rs.13,844 million.

India, US, Italy and Bahrain are among the investors, the BOI sources said.

The projects are expected to generate 900 direct jobs, the sources said.

The largest of them is the Kalpitiya Tourist Hotel project with an investment of Rs.13,000 million. This project alone is expected to create 400 jobs, the sources said.

A project incorporating tea cultivation, preparation and export will be started under the programme, Nipayum Sri Lanka Industries.

The project will be implemented with an Rs. 285 million investment in Akuressa, Galaboda tea plantations. Eighty per cent of its tea produce will be exported, the sources said.

The BoI has approved several other projects incorporating industries based in IT, fashion designing and garments.