BoI signs MoU with Rainbow Foods for fish marketing

Sri Lanka: The Board of Investment of Sri Lanka signed an agreement with Rainbow Foods (Private) Limited. Chairman/Director General Dhammika Perera signed the agreement on behalf of the BOI and formally presented the investor with the BOI Certificate of Registrations.

The agreement with Rainbow Foods is for a project to undertake deep sea fishing and processing of fish for the export market.

The venture will be sponsored by Rainbow Engineering and Supplies. The project will be utilising 100 % local raw material and is expected to operate with a monthly turnover of US $ 1 million.

Construction of the processing plant has already commenced and commercial operations are expected to start in 6 months.

The venture is an investment of US $ 545,000 and will create employment for an initial workforce of 20. The venture will be located at Dankotuwa.

Director K. de Silva and Director N. de Silva signed the agreement on behalf of Rainbow Foods.