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The Board of Investment (BoI) has signed 10 new agreements and 10 supplementary agreements during June. The total value of the new agreements is estimated at Rs. 1027 million and the projected employment is 482.

Companies which have already invested in Sri Lanka have further expanded their business interests by signing supplementary agreements. These companies include Expo Aviation (Pvt) Ltd., SKY Sports Lanka (Pvt) Ltd., Aida Hotel (Pvt) Ltd., M Samson Silva and Co. (Pvt) Ltd., Silvador (Pvt) Ltd., Celltel Lanka Ltd., Paradigm Clothing (Pvt) Ltd., YKK Lanka (Pvt) Ltd. and Universal Ceramics Co (Pvt) Ltd. An interesting feature of these agreements is the emphasis on fabricated metal products from India, with three projects in this sector.

Vishnavi Metals (Pvt) Ltd. has signed up to manufacture solid wire, lead wire and lead pipes for the export market. The company has invested Rs. 295 million and will employ 130 people. The project will be located at the Makandura Industrial Estate.

Dankotuwa Ceylon (Pvt) Ltd., a Rs. 69 million investment which will employ 62 people, will produce copper wire by using imported ingots or rods for the export market. KMG Lanka (Pvt) Ltd. will also manufacture copper wire by using imported copper rods. The investment in this project, to be located at the Industrial Estate at Dankotuwa, is Rs. 129 million while its employment potential is estimated at 38.

Lanka Canneries Agrifoods (Pvt) Ltd. was established by a British civil Servant, R.H. Basset, in the late 1930s. During the Second World War, the Marketing Department produced jam from local fruits for the consumption of the troops and the fruit-processing factory was built in Narahenpita, Colombo.

After the war, the Department improved the fruit processing facilities at Narahenpita by importing machinery from the UK, USA and Europe. All products were manufactured under stringent quality control under the brand name MD.

The company has expanded operations to manufacture and grow fruits and vegetables. This is done in two locations. The processing and canning will be done at the Seethawaka Industrial Park. The total investment in this project is around Rs. 225 million and will generate 65 new direct employment opportunities.

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