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* New garment manufacturer in Sri Lanka signs agreement with BOI for US$ 1 million investment
Fri, Sep 5, 2014, 09:24 am SL Time, ColomboPage News Desk, Sri Lanka.

Sept 05, Colombo: Sri Lanka's investment promotion agency, the Board of Investment has signed an agreement with a garment manufacturing firm, Alpine Clothing Nikeweratiya (PVT) LTD to set up a Garment manufacturing plant.

BOI Chairman Dr. Lakshman Jayaweera signed the agreement on behalf of the BOI and Director of Alpine Clothing Nikeweratiya (PVT) LTD Ms. Punsisi Parakramahewa Mathrage signed the agreement on behalf of the company for the investment.

Alpine Clothing Nikeweratiya (PVT) LTD is a newly established garment manufacturing plant with an investment of 1 million US Dollars. The state of the art manufacturing plant is planning to commence its operations by the end of March 2015.

Alpine Clothing will be established as a 250 machine modern factory in its phase 1 creating 500 jobs in the Wayamba region. The factory is currently under construction with state of the art facilities and machines.

Further the management is planning to expand the factory with 500 machines creating up to 1000 jobs during the first 2 years of production.

The management has strong ties with European apparel agents and is planning to manufacture and export ladies wear to European markets. Having a stable market, the management is planning to offer benefits such as attendance allowances, medical allowances and many benefits to the employees along with safer and comfortable working conditions.

The Board of Investment has encouraged this venture which will benefit the Wayamba regional economy and create jobs for its unemployed youth. This is the vision of President Mahinda Rajapaksa to boost export revenue by developing industries in the regions.

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