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| Sunday, 13 June 2004 |
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BOI agreements - from fish to embroidery by Elmo Leonard Thirteen BOI agreements were signed last week, for projects ranging from exports, to sales, in the local market, for such products as computer hardware and software, chocolate and confectionary, textile products and accessories, fruits and fish products, marble tiles and slabs and ayurvedic raw materials. Some of these Board of Investment of Sri Lanka projects, were entered into with foreign collaborators, while and others which would be wholly local projects. In a Rs 317.45 million project, Office Tiger (Pvt) Ltd, established at the World Trade Centre (WTC) Echelon Square, Colombo, will set up a business out-souring centre to provide IT-enabled services for off- shore markets. The local company has gone into collaboration with Parnassustoren Locatellikade, Netherlands. Twenty-five foreigners and 125 locals will be employed in this projects. Tech Distribution Lanka (Pvt) Ltd, is a Rs 154.4 million project, with three collaborators from the United Arab Emirates. Located at the WTC, Colombo, their objective is to set up a central hub for IT- related products, tele sales and support services to the subcontinent. They would also provide technical support for Microsoft partners to develop and deploy solutions in the local market, a spokesman for BOI said. Microsoft Sri Lanka (Pvt) Ltd, located in the WTC, has entered into an agreement with Microsoft Corporation, Washington, USA, to engage in IT services for export. This Rs 10 million project will employ four persons. Red Systems Software (Pvt) Ltd, is a project set up to develop software for export, by Fortress Networks (Australia) Pvt Ltd, Victoria. This is a Rs 32 million project, which would employ three foreigners and 23 locals. Timex BPO (Pvt) Ltd, under sponsorship of Timex Garments Ltd, will set up a business process out-souring centre to provide IT-enabled services for off-shore markets. The project would cost Rs 32 million and employ 80 persons. The local company, Serendib Nippon Innovations (Pvt) Ltd, set up last week, will cultivate and process fruits and vegetables, together with processing of fish for export. Two sponsors from Japan are involved in the project, with a local collaborator. The cost of the project is Rs 19 million and will be located in Eambulpitiya Estate, Gingathhena, with exports of 80 percent of its produce. The project is expected to employ 97 persons. Jeehansh Plantations (Pvt) Ltd, costing Rs 10 million, will cultivate fruits and vegetables for the local market. The project will be located at St Martha Farm and Estate, Lunuwila. The local sponsors are Nimal Samarakkody and Mithri Wijeygoonawardhana. Seico Agricultural Development (Pvt) Ltd, located in Bulathsinghala, will cultivate fruits and vegetables , foliage cut flowers and herbs. The project will cost Rs 10 million. Tharindu JBJ Creations (Pvt) Ltd is a project which would provide screen-printing, label and tag-printing and embroidery services to garment exporters. Located in Piliyandala, the project, would cost Rs 26 million, provide employment for 325. Eighty-percent of the produce would be for export, the BOI spokesman said. Creative Embroidery (Pvt) Ltd, a Rs 42 million project, would provide embroidery services to export oriented garment manufacturers. The investors are from Pakistan. Seventy-percent of the company's income would be received in convertable foreign currency. The project would be located at Mayura Mawatha, Ratmalana. Orbit Apparels (Pvt) Ltd, is a collaboration between Laggala Apparels and Orit Apparels to manufacture textiles and zippers and other accessories for exclusive use for garments manufactured by the enterprise, for export. Italo Cararra (Pvt) Ltd is a project to manufacture marble tiles and slabs for export to be set up at the Katunayake Export Processing Zone. It would entail an investment of Rs 144 million and employ 101 persons at capacity. Ferrero Lanka (Pvt) Ltd, would manufacture value-added chocolates and other confectionery. Eighty-percent of the production would be for export and the balance would be sold in the local market. The investment involved would be Rs 35 million and the project will be located in Habrakada, Ranala, employing 143 persons. Suva Property Developers and Constructions (Pvt) Ltd, would be involved in the construction of two apartment complexes at Dehiwala and Wellawatte, the BOI spokesman said. |
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