Business Times

Bairaha to build new state-of-the-art chicken farm

With demand rising and government plans to import chicken to meet a seasonal shortage this month, Sri Lanka’s Bairaha Farms announced this week that the company is setting up a state-of-the-art broiler (chicken) farm on 48 acres at Anamaduwa in the Puttalam district.

The farm will be created in line with international farms and standards. “The size of each poultry house will be much bigger, and the specifications of these buildings will be technically more advanced to enable us to maintain outstanding hygiene and cleanliness than possible with farms currently operating in Sri Lanka,” Yakooth Naleem, Bairaha Managing Director said in the statement.

The government, which is allowing the import of chicken to meet a shortage in the market this December season, has urged chicken producers to substantially increase production owing to an expected rise in consumption with per capita incomes seen doublingin the next few years. Increasing tourism numbers – this year expected to easily go over 600,000 arrivals – and a target of 2.5 million tourists in 2016 is putting pressure on chicken producers to increase supply.

In a filing at the Colombo Stock Exchange, Bairaha – a pioneer chicken producer – said it signed an agreement with the Board of Investment (BOI) to give effect to this proposal. The project, to be set-up under a new company subsidiary called Nature’s Best Industry Ltd, will enjoy a 10-year tax holiday from the first year of making profits.

The expected investment in the first year is Rs 120 million with the total, additional investment in the second and third year being Rs 240 million. “We expect this will increase our commercial broiler production by 20 % in the first year, 20 % in the second year and 15 % in the third year,” Mr Naleem said in the statement. The first batch of chickens from this farm will be ready by April/May 2011.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
Pension scheme discussion on Tuesday
Sri Lankan worker arrested in US over insider trading charges
Shangri-La leisure project kicks off in 2011
D.R. Wijewardena Mw to be Colombo’s leisure hub
World Bank assistance may double to Sri Lanka
Inflation up, says Central Bank
Hayleys chairman gets five more years
Two bankers and an old ‘Austin’ car
Comment - Imported coconuts, camel milk and ostrich eggs
Feature - Skill, luck and reversion to the mean
Feature - Our skies are safe
Sri Lanka welcomes 600,000th tourist
PCH enters mobile phone business
IMF says pleased with Lankan economic progress
Sri Lanka Railways can be turned around if there is political will
Weli moves out as Transparency Int. Executive Director
Rothschild Tea estate wins top entrepreneur award in Central Province
First 'Etisalat Business Edge' forum for SMEs held
SLT receives two prestigious awards for its 2009 Annual Report
Belgian investors upbeat following visit to Sri Lanka
Nestlé provides over 14,000 people across Sri Lanka with clean drinking water
Sri Lanka company becomes first global tea firm to be certified CarbonNeutralEswaran Brothers
WB Managing Director visits Sri Lanka
SL retail banking becoming more like hospitality
BellVantage appointed as Siemens Enterprise communications partner in Sri Lanka
Book - Central Bank of Sri Lanka Retrospect 1950 - 2010
Microsoft to guide Sri Lanka towards cloud computing
Bairaha to build new state-of-the-art chicken farm
Ceramics sector urges Govt. to reconsider proposed electricity tariff
Sri Lanka tourism with a local touch
Rs 5000 commemorative coin from Central Bank
Potential Sri Lankan economic boom draws Malaysian investors
Singer launches Whirlpool refrigerators
Asian wage growth remains positive despite economic crisis: ILO
Commercial Bank launches Chip Card with VISA
Cement Corp. to start work on KKS Harbour View hotel
Famous city landmark – the St. John Fish Market – moves to Peliyagoda
ICT entrepreneur offers tips to STBC members
Call for good corporate governance in Sri Lanka
Swadeshi launches ‘Safeplus’, effective solution to a germ free life
Novartis wins Alcon with cash sweetener
Mphasis exceeds a billion dollar in revenues
‘Adrenalin’ Human Capital Alignment software now in Sri Lanka
EFutures develops online 'Wish List' for Mattel
TRC to share profit on satellite
SLIC to shed some stakes to fund mega state projects
“Payment Guaranteed Cheque” from Sampath Bank


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2010 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution