Brandix to invest in new factory in Eastern Province
May 19, 2008 - Sri Lanka
A new factory will be established under the “Negenahira Navodaya” development programme. Negenahira Navodaya is President Mahinda Rajapaksa’s vision to develop the Eastern province.
The Brandix Group, decided to set up this new project which was part of the Board of Investment's Sri Lanka (BOI)effort to attract much needed investment in the Eastern region. The complex will be built at Rideetenna, Welikanda in Punani by the Brandix Group.
The total investment of this project is expected to be Rs. 340 million and it will generate 455 direct employment opportunities at the initial stage. The employment is expected to be increased to 2500 at capacity. The new factory will be set up on a 10 acre land owned by the Mahaweli Authority of Sri Lanka which was handed over to Brandix.
Brandix will also invest US $ 25 million over the next four years to place the country on the world map as a location for environmental best practice said Chief Executive Officer, Brandix, Ashroff Omar. Over the next four years the Brandix Group will invest US $ 25 million on introducing environment friendly features to their factories.
With a vision “to be the inspired solution for branded clothing” Brandix is supported by over 20 manufacturing facilities in Sri Lanka and strategically located international sourcing offices. Brandix is Sri Lanka's largest apparel exporter with an annual turnover that exceeds US $ 320 million. They also provide over 50% of value addition locally through their backward linked operations in textiles, thread, buttons, and hangers.