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Sri Lanka's Mas Holdings to invest in Haiti
28
Jun '16
Sri Lanka based clothing and lingerie manufacturer Mas Holdings will invest in setting up manufacturing units in Haiti's Caracol Industrial Park (PIC), Haitian media reported.

Mas Holdings would become the second largest investor in PIC. The largest investor is S&H Global, a subsidiary of South Korean garment manufacturer Sae-A Trading, which began operations in PIC in the fall of 2012.

The announcement about Mas Holdings investment in PIC was made by Sharda Amalean, vice president of Mas Holdings, at a reception organised by the National Society of Industrial Parks (SONAPI) in Caracol last week.

Mas Holdings decision to invest in PIC was welcomed by SONAPI director general Philippe Debrosse and Haitian Chamber of Commerce North president Nonce Zéphyr.

The project will begin after completion of some formalities as per Haitian government regulations, the reports said.

With annual revenue of $1.6 billion, Mas Holdings operates in 15 countries employing nearly 80,000 people.

PIC was built in 2012 on a 252 hectare site near Caracol. The $300 million project, which includes a 10-megawatt power plant, a water treatment plant, and development of a port in nearby Fort-Liberté, was built with hurricane relief funds, a loan from the Inter-American Development Bank, contributions by the US government, and The Clinton Foundation. (RKS)

Fibre2Fashion News Desk – India

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