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Textured Jersey Lanka to increase capacity by 100%

Textured Jersey Lanka (Pvt) Ltd, one of Sri Lanka's most sophisticated weft knitting manufacturing facilities, laid the foundation stone to commence work on Phase II of its expansion. The expansion aims to increase capacity by 100% at an investment of US $15 million.

Textured Jersey at the Industrial Park in Seethawaka, Avissawella, is a joint venture between Pacific Textiles Hong Kong and Sri Lanka's MAS Holdings (Pvt) Limited and Brandix Lanka (Pvt) Ltd.

Chief Guest, Minister of Enterprise Development and Investment Promotion, Rohitha Bogollagama said that it is forward thinking strategies like those employed by MAS Holdings and Brandix that has made things happen for the apparel and textile sectors and the investment arena.

"Within the regional economy our very high standards, best practices including ethical sourcing and employee welfare make investors look at Sri Lanka more favourably than regional competitors. It is the private sector that has given the impetus for Sri Lanka's economy to grow and I want the private sector to be in the forefront of the forward march for investment in 2007."

Chairman/Director General of the Board of Investment of Sri Lanka Prof. Lakshman R. Watawala said the government recognises that the fabric manufacturing industry is a thrust industry and has therefore given this sector incentives to ensure its growth.

"Textured Jersey has seen the need to meet the increasing demand and to make the industry more competitive, which has led to this expansion. We see a major foreign investor linking up with Sri Lanka's apparel giants, which also signals confidence in the country's economic climate."

Chairman of MAS Holdings, Mahesh Amalean said, "The sourcing of fabric has been one of the bigger challenges for Sri Lanka. With the setting up of plants such as Textured Jersey and now the planned expansion, we are decreasing the gap between what we need and what we have.

The investments now being implemented are setting the footprint to triple capacity in the next three years." He said that not only will there be continued investment in the supply chain within the Group, but there will be a definite permeation of supply chain advantages that will arise for the entire industry with this venture.

The Directors of Pacific Textiles reaffirmed their commitment to invest and grow Textured Jersey thereby adding further value to Sri Lanka's apparel industry at large. They are committed to support the BOI in its efforts to reduce manufacturing costs in Sri Lanka by sharing their knowledge and expertise in the area of cheaper alternative energy sources to others in manufacturing industries.

The expansion due for completion by November 2007 will offer additional capacity to its present customers, who currently look to China and India to fill shortfalls in fabric requirements. It also envisages the generation of 550 new employment opportunities for skilled workers.

 

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