Jan 24, Colombo: Sri Lanka 's investment promotion agency, Board of Investment has approved a joint venture between the Elpitiya Plantations and Dianhong International Limited, a subsidiary of Yunnan Dianhong Group of China to produce a specialty tea for China.
Accordingly, the new venture, Elpitiya Dianhong Jin Ya Tea Company will grow, process, and market, high quality "Chinese specialty tea" to cater the high end market segment in Greater China.
The Chinese specialty tea will be grown in the in the upcountry estates, operated by the Elpitiya Plantations.
The joint venture is expected to attract more foreign investment in the sector to the country and expose more Sri Lankan tea products to the Chinese market.
According to the BOI, Yunnan Dianhong Group Company Limited of China (DGCL) is the biggest private shareholding Black Tea manufacturer in Greater China.