ISSN: 1391 - 0531
Sunday April 13, 2008
Vol. 42 - No 46
Financial Times  

BOI seals logistics, higher education projects

The Board of Investment of Sri Lanka signed agreements for three new projects dealing with logistics and higher education.
Dhammika Perera, Chairman / Director General, signed the agreement on behalf of the BOI while Dr. Sarath Amunugama, Minister of Enterprise Development and Investment Promotion formally presented the investors with the BOI Certificate of Registrations.

The agreement signed with Logiwiz NW Ltd is for a project to set up a venture to undertake an integrated supply chain management operation. The venture sponsored by Logiwiz will set up a centralized logistic hub at MAS Fabric Park, Thulhiriya. This project is an initial investment of US$ 820,000 and will create direct employment opportunities for a workforce of 20.

The venture expects to start commercial operations in September 2008. They will be providing these services to the investors within the MAS Fabric Park and to BOI ventures in the North Western Province, the BOI said in a press release.

Omar Raban (Director) and S R Sadanandan (Director) signed the agreement on behalf of the company.

The agreement signed with Pioneer Warehousing Ltd, is for a project to construct and operate a most modern material handling systems warehouse at Peliyagoda. This project is an investment of a minimum of US $ 1.4 million. Construction of the warehouse is expected to be completed by October 2008. The venture, will be for the shifting of the warehouse, the Shaw Wallace Group currently operates at Kollupitiya, to Peliyagoda. This venture is expected to provide additional employment for 25.

Pioneer Properties and Lee Hedges Ltd, a BOI approved company, is the ‘Property Development Arm’ of the Shaw Wallace Group. This company would be responsible for the development of the valuable 3½ acre Kollupitiya property, to a Business Park.
S.R. Vamadevan, Chairman and Ms. S. Ratnayake, Director, of Pioneer Warehousing Ltd, signed the agreement on behalf of the company, the BOI statement said.


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