Sri Lanka's new fabric park to manufacture raw materials worth $500 mn

Sri Lanka annually spends $6 billion on raw materials needed for textile manufacturing. With this new set up, raw materials worth $500 million can be manufactured every year.

Four leading garment manufacturing companies are willing to invest in the fabric park, which is expected to create at least 5,000 jobs, according to Sri Lankan media reports.

In addition, the government will spend SLR 5.5 billion on developing infrastructure facilities for the project. Edirisuriya and BOI director general Renuka M Weerakone made an inspection tour recently to the site along with a group of potential investors.

Fibre2Fashion News Desk (DS)