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BOI-Priority Garments JV for casual pants manufacturing plant

13
Jun '08
The Board of Investment of Sri Lanka signed an agreement with Priority Garments. Mr. Dhammika Perera, Chairman / Director General signed the agreement on behalf of the BOI. Hon Dr. Sarath Amunugama, Minister of Enterprise Development and Investment Promotion formally presented the investor with the BOI Certificate of Registrations.

The agreement signed with Priority Garments is for a project to manufacture casual pants for the export market. Priority Garments has taken over an existing factory at Madapatha owned by L Jinadasa Apparels, a BOI approved venture to commence operations. The company's production is exported to a wide number of clients in the European Union and the USA. The investing companies in this venture are Orient Garments and Fascination Exports.

The Priority Garments venture is at an investment of US $ 430,000 and will create employment opportunities for a work force of 450. The venture located in Kahapola, Madapatha has already commenced commercial operations.

Mr. Priyanjith Weerasooria (MD, Orient Garments) and Mr. Noel Priyathilake (MD, Fascination Exports) signed the agreement on behalf of the company.

Board of Investment of Sri Lanka


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