MAS Holdings to open factory in Jaffna

by Shirajiv SIRIMANE

MAS Holdings, one of the leading apparel companies intends to open a garment factory in the Acthuveli industrial zone in Jaffna as a Board of investment (BoI) approved venture.

The chairman of the Industrial Development Board (IDB) Udayasri Kariyawasam said representatives from the private sector and the BoI would visit the Actchuveli industrial zone tomorrow for an inspection tour.

"There is a 65 acre unutilised land at the industrial estate and our aim is to elevate it to its past glory. We are looking at local and foreign investors to set up industries at this venue," he said.

Kariyawasam said that the IDB under the purview of the Ministry of Traditional Industries and Small Enterprise Development is taking steps to introduce a program in line with the Mahinda Chinthana to assist the industrialists.

This Industrial Revitalization Program was initiated with the objective of empowering the abandoned, crippled or unsustainable local industries in the island. He emphasised that the promotion and development of those industries is opportune.

He further said "since the majority of such industries are equipped with infrastructure facilities machinery and technology, a fresh foundation need not be required to revitalise them.

Further more, the industrialists who venture into new industries are required to abide by environmental regulations."

He said that they would speak to banks to differ the loans of industrialists and also assist them by introducing new technology. "We will also help them to find new markets and even go to the extent of finding them partners he said.

This program is not confined to small and medium scale industrialists. Even large scale industries could seek assistance under this program."

"We appeal to all local industrialists faced with problems to rally round this program".

The application forms are obtainable at Regional Development Division or from any of the 21 Regional Offices until July 20.

The duly perfected forms should be handed over to the same offices before August 5.