BoI signs 37 new agreements worth US$ 579 mn | Daily News

BoI signs 37 new agreements worth US$ 579 mn

The Board of Investment of Sri Lanka has entered into 37 new investment agreements in April and May 2016. The total estimated investment is around US$ 579 million generating 6000 direct employment opportunities.

With the Megalopolis programme in progress nine agreements have been signed toset up new apartment complexes.

Fairwar Urban Homes, Iconic Development, S T K Developers, Menara Residencies , Capital Tower, Elysian Reality , U K Lanka Developers, Makro Developers and P U W Towers will set up new housing complexes in Colombo. The estimated value of investment is US$ 230 million. Four new agreements have been signed in power generation projects to set up mini hydropower projects in Dehiattakandiya, Demodara, Soranathota and Walapane.Vidula Biomass, Ino Mini Hydro Power, Udawela Hydro and Biomed Hydro Power have obtained BOI approval to set up mini hydro power plant projects.

Western Solution and L S E G Business Services Colombo will set up projects to develop software and provide Information Technology enable services and to provide Business Processing Outsourcing services for international market.

Four new agreements were signed to set up hotel projects with an investment of US $ 69 million. Saracawatta, Saif Estate, Sofia Kandy and Casa De Hotel and Resorts have obtained BOI approvals to set up their hotels in Hikkaduwa, Bandarawela, Peradeniya and Wennappuwa. These four new hotel projects will help the Government to achieve its target to build 75,000 rooms to cater to four million tourist arrivals by 2020.

Two new agreements were signed to set up garments and related manufacturing projects with an investment of US $ 15 million. A total number of 1300 direct job opportunities will be created through these two projects. EAM Maliban Textiles and Yyonne Lanka will produce garments and garment accessories. Two agriculture projects have obtained approvals during April and May. Japan Lanka Agriculture Industrial Research and Training Centre (Pvt) Ltd will set up a project to cultivate vegetables for the export market and also establish an agriculture training institute in Divulapitiya. Value Plantation will set up a project to produce value added tea for the export market. The total estimated investment would be US $ 14 million.

Three agreements were signed to set up Mixed Development projects in Colombo investing US $ 144 Million. Blue Mountain Colombo, A O D Properties and M S A Shamsudeen Development have obtained BOI approvals in this sector.

D & A Apparel Trading signed to set up trading house to export garments and other textile products. Star Garments Group signed to set up an export trading house to export Sri Lankan non-traditional products and to provide with designing services. The total investment of these two projects would be US $ 7 million.

Bhagya Hospital signed an agreement to set up and operate a hospital in Mahiyanganaya with an investment of US $ 3.8 million. Farmchem Manufacturers signed an agreement to set up a project to manufacture veterinary pharmaceuticals for export market. This project representing an investment of US $ 4.5 million will be located at the Industrial Zone, Homagama. Batticaloa Campus Limited signed an agreement to set up a higher education Institute in Batticaloa.



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