Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka's BOI signs US$ 10 million Canadian investment for Hub Operation
Mon, Mar 17, 2014, 01:13 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 17, Colombo: Sri Lanka's investment promotion agency recently signed an agreement with Glowbal Warehouse Outlets (Pvt) Ltd for a US$ 10 million investment to set up a warehouse and logistics center.

The Board of Investment of Sri Lanka signed the agreement on 13th March 2014 with Glowbal Outlets (Pvt) Ltd which is a Canadian Investment for a project to undertake logistics services for international clients.

Dr. Lakshman Jayaweera, Chairman of the BOI signed the agreement on behalf of the BOI and Mr. Ramzey Hammound, President of the company signed the agreement on behalf of Glowbal Outlets.

The logistics center will be located in the Katunayake Export Processing Zone, near Sri Lanka's main international airport and will employ about 1,000 people, the BOI said. It will generate around 1000 direct employment opportunities, the BOI said.

Glowbal Outlet Stores mainly focuses on the Middle East market and will penetrate Europe in the future.

Investors are Canadians of Lebanese origin and currently have their operations in the Free Trade Zone in Beirut, Lebanon.

Glowbal Warehouse Outlets will provide import, store for global distribution, multi-country consolidation and transshipment and re-export goods.

It will also engage in activities such as sorting, spotting, cleaning, washing, tagging, packaging and loss prevention security, apparel, accessories and household items for international clients.

The BOI is actively promoting the hub operations sector which includes a wide range of new activities such as enterpôt trade, offshore business, front end services to clients abroad, regional headquarters and logistics service such as bonded warehouses.

ColomboPage - Recent 10 Stories
Body of 13-year-old girl dragged by crocodile found inside its belly
-- [2 hours ago]
Korea EximBank signs aide memoire with ADB and Sri Lankan government to develop Colombo-Trincomalee Economic Corridor
-- [3 hours ago]
Sri Lanka state doctors threaten to strike again between May 3 and 5 demanding to close SAITM
-- [4 hours ago]
Sri Lanka expects to receive EU's GSP+ tax concession by 15 May as exporters eagerly await to reap benefits
Special security plan in Colombo and Kandy for May Day rallies
Islamic delegation praises Sri Lankan President's views on religious harmony and peace
Sri Lanka Finance Minister highlights the need to provide social infrastructure for aging population in Asia-Pacific region
Sri Lanka power regulator to resolve the environmental concerns of the communities of Norochcholai
Former Eastern Province Chief Minister Pillayan further remanded over Tamil MP's murder
Inflation in Sri Lanka capital Colombo is 6.9 percent in April 2017

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.