BOI signs MoU for 2 new projects

Sri Lanka: The Board of Investment signed agreements for two new projects. Super Feed Lanka is a project to manufacture raw material for the animal feed industry.

Dr. W. P. P. Samarasinghe said that Sri Lanka imports around 60 % of the raw material requirements for the animal feed industry. By the implementation of this project import of the raw materials can be reduced.

The venture would dry and properly store locally produced maize and produce Soya Bean Meal with the use of Soya Beans.

This project is an investment of Rs. 70 million and is expected to provide employment opportunities for a workforce of 60. Super Feed Lanka will import the required machinery from China. The venture located at Mawanella is expected to commence operations in six months time.

The agreement signed with Etal Group is for a project to manufacture electronic components for the export market. This venture is sponsored by ElektronikGruppen, Sweden.

ElektronikGruppen is one of the Nordic region’s leading suppliers of high technology electronic components, systems and production equipment for the electronics industry.

The Group has around 365 employees and conducts operations in 10 countries through three business areas with specialized knowledge in electronics and electro mechanics. This project is an investment of US $ 250,000. The venture is expected to provide employment for a workforce of 100.

The manufacturing plant will be located at Ratmalana and commercial production is expected to commence in May.

The venture will be using state-of-the-art technology imported from Sweden, China and UK.