Okaya Lanka signs deal with BOI

Sri Lanka: Okaya Lanka, singed an agreement with the Board of Investment of Sri Lanka for a project to manufacture electrical components for the export market.

This project is an initial investment of US $ 30 million sponsored by Okaya electric Industries, Japan. The venture located at the Katunayake Export Processing Zone will create employment opportunities for a workforce of over 1000.

Okaya is an international company that designs, manufactures and markets Electrical Noise Suppression Components, LED products and for use in the Electrical and Electronics industry.

Managing Director of Okaya Lanka Aoki Masamitsu, said that Okaya Electric Industries is a prominent manufacturer of electronic film capacitors and has a 20 % share in the world electronic market. He further stated that Okaya Electric Industries supply electrical components to major brands such as Canon, Panasonic, Hitachi, Sony, Samsung and Delta Ex.

Okaya Lanka has purchased a fully operational factory and will commence commercial operations in July. The venture will also import state of the art technology from Japan.

Masamitsu also stated that there was an official launch of Okaya Lanka in Japan parallel to the agreement signing with the BOI. Okaya Lanka will invite top officials of Japan for the commencement of Commercial Operations. They hope with that more Japanese companies will see the investment opportunities and facilities available and encourage them to invest in Sri Lanka as well.