Sri Lanka's investment board signs pacts worth $60.86 mn

27 Nov '18

1 min read

Sri Lanka’s Board of Investment (BOI) recently signed $60.86 million worth investment agreements with local and foreign investors in apparel, logistics, plant tissue culture and packaging sectors. The largest such project was signed with W U S Logistics (Pvt) Ltd to set up a logistics city in Negombo with a committed investment of $49.8 million.

The logistics city will include warehousing facilities, cold room facilities, in-house value addition and multi country consolidation services, auditorium, business communication centre, exhibitions centre, logistic education centre and research & development facility, according to Sri Lankan media reports.

The BOI also signed a $3.5-million agreement with First Steps Babywear Lanka (Pvt) Ltd to set up a plant in Modarawila Industrial Estate, Panadura, to manufacture garments and other textile products, especially baby wear, for export.

Y.C.G Packaging (Pvt) Ltd signed an agreement worth $7.6 million to manufacture garment accessories like hand tags, price tickets, over riders bands, body card, colour bands, body bands, label PVC, satin labels, size labels, booklets and packaging boxes. (DS)

Fibre2Fashion News Desk – India