BOI to set up $ 5 m Technology and Management Institute
A venture to set up a US $ 5 million higher education institute which
has facilities to educate 1,200 students was approved by the Board of
Investment (BOI) last Wednesday. The institute will provide higher
education in Communication, Mass Media, Business Management, Engineering
and Languages.
Chairman/Director General, Dhammika Perera signed the agreements and
presented the BOI Certificate of Registration, to Chairman/President of
South Asian Institute of Technology and Management Company Dr. Neville
Fernando.
The project carried out by the South Asian Institute of Technology
and Management Company with an investment of US $ 5 million will
generate employment for 50. "The venture will establish a higher
education institute for Technology and Management studies at the IT
Park, Malabe. The company has commenced construction work on the five
storeyed building", said Dr. Fernando.
The BOI also signed agreements for several projects worth US $ 1.31
million last week:
* Lanka Cat Limited signed an agreement for a project for web
designing and software development for foreign clients. The venture
expects to commence operations within two months. The project with an
investment of US $ 210,000 is sponsored by Tom-Cat from the Czech
Republic. Tomas Plojhar, Chairman and Brian Kurera, Manager signed the
agreement on behalf of Lanka Cat.
* An agreement to set up a flying training academy was signed with
Openskies Flight Training Limited. The academy will provide ground
school classes and practical training for the private and commercial
pilot licence. The academy expects to commence training in December. The
project will be an investment of US $ 610,000 is at Panadura, while
training will be given at Air Force Bases at Katukurunda, Weerawila or
Koggala. M. D. H. Fernando, Chairman and Mrs. Kushla Fernando, Director
signed the agreement on behalf of Openskies Flight Training Limited.
* Oxigen Plantations signed an agreement to set up a project to grow
forestry and cash crops. The venture will be to grow Teak trees and cash
crops such as pulses, yams and bananas. The 25 acre plantation will be
at Puttalam. This project with an investment of Rs. 54 million will
create employment for 50. Josh Casttle, Chairman and Caniut Silva,
Director signed the agreement on behalf of Oxigen Plantations. |