BOI to set up hosiery manufacturing facility at Ratnapura

15 Dec '08

4 min read

BOI signs agreements for eight new projects worth USD 43 million including a USD 36 million development project at Ratnapura

The Board of Investment of Sri Lanka granted investment approval for eight new projects representing a total worth of USD 43.71 million. Board members Mr. Eshana de Silva and Mr. Upali Samaraweera signed the agreements and formally presented the BOI Certificate of Registrations to the investors.

Peoples Leasing Property Development Limited signed an agreement to set up a mixed development project located in Colombo 8. Peoples Leasing Property Development Limited, a subsidiary venture of Peoples Leasing Co. Limited is an initial investment of US $ 5 million. The 12 storeyed building will house the Head Office of the group and also a Peoples Bank Branch with two ATM machines will be established in the Ground Floor. Construction of the complex will begin this month and is expected to be completed within two years. Chairman of Peoples Bank and Peoples Leasing Group of Companies Mr. W. Karunajeewa and Mr. D. P. Kumarage, CEO/GM of Peoples Leasing Co Limited signed the agreement on behalf of Peoples Leasing Property Development Limited.

An agreement to set up a project to manufacture hosiery and fine hosiery for export was signed with Finetex (Private) Limited. Finetex is an investment made by Sebino/Viscotex, Italy. Sebino/Viscotex, Italy is one of the largest manufacturers of socks and hosiery in the world. The company has a history of over 50 years and has a reputation for manufacturing fine quality ladies stockings. The venture first invested in Sri Lanka 25 years ago with the establishment of Texlan, Filotex and Texlan Centre. The new project is an investment US $ 1.5 million generating employment for 150. The Directors of the company are Mr. P. A Berterali, Mr. S. T. Nagendra, Mr. Dinal Peiris and Mr. C. L. K. P Jayasuriya.

F & G Realtors International (Private) Limited signed an agreement to set up a mixed development project at Ratnapura. The mixed development project is a joint venture between F & G Property Developers (Pvt) Limited, The Finance & Guarantee Co Limited and F & G Real Estate Co Limited.

Golden Dragon Agri Export (Private) Limited signed an agreement to set up a US $ 150,000 agriculture farm to grow fruits including noni fruits, dragon fruits, vegetables and flowers for export.