Four new projects per month: Factories program accelerated

by Lalin Fernandopulle

Four factories with an investment of Rs. 2,200 million under the 'Nipayum Sri Lanka' 300 enterprises program launched by President Mahinda Rajapaksa commenced commercial operations in August, Investment Promotion and Enterprise Development Minister Rohitha Bogollagama said.

The Minister said over 2,000 job opportunities were created through the four factories in addition to the other six factories that have started operations employing over 1,500 people.

To accelerate the factory program it has been planned to start four factories per month commencing from this month and targets over 15 by December, he said.

The factories which commenced operations were Durra Building (Pvt) Ltd. at Girithale, Polonnaruwa, Flintec Transducers (Pvt) Ltd. at the Katunayake Free Trade Zone (FTZ), Orit Apparel (Pvt) Ltd. at the Sithawaka Industrial Zone in Awissawella and Gurihd Accor (Pvt) Ltd. in collaboration with Asoka Glass and Mirror Company at Ranmuthugala, Kadawatha.

Durra Building Factory (Pvt) Ltd. which commenced with an investment of Rs. 300 million provides 200 direct employment opportunities produces household items using straw. The factory is a collaboration between Votech (Pvt) Ltd. and CIC (Pvt) Ltd. Sri Lanka.

Flintec Transducers (Pvt) Ltd. commenced operations with an investment of US$ 2.5 million to produce components for electronic weighing machines. The factory, a collaboration between Sweden and Sri Lanka will create 300 direct employment opportunities.

Orit Apparel (Pvt) Ltd. exporting high quality denims to USA was launched with an investment of US$ 5.5 million to expand operations in the country. Orit Apparel (Pvt) Ltd. launched in Embilipitiya in 1997 expanded to Laggala and Marawila with a workforce of over 3,500. Indian Gurihd Accor (Pvt) Ltd. launched with an investment of US$ 5 million is a joint venture with Sri Lanka's Asoka Glass and Mirror Company.

The factory is Sri Lanka's first developed glass manufacturing unit. Over 65 percent of the exports are from BOI companies and records the highest revenue in the country. This year's export performance has been remarkable and recorded its highest in the 28-year history of the BOI, the Minister said.

Bogollagama said investment figures for the first six months of this year have surpassed the previous year and it will be released this month.

The private sector has shown great interest in the investments of the country. Investor confidence lies in the facilitation and assurance given to investors. Today investment flows from India, Malaysia and Europe has taken a major leap forward.

These investments have helped the country to develop its telecommunication, transport, and other vital infrastructure facilities, Bogollagama said. The standard of the present investment zones will be developed while three new zones will be set up in Puttalam, Matara and Trincomalee, Bogollagama said.

The 'Nipayum Sri Lanka' 300 factory program launched to develop the rural sector provides employment opportunities to youth in the area. The main beneficiaries of the program have been the small and medium enterprises in the country.