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* BOI signs agreements for hotel, fabric manufacture, and warehouse & logistics facility
Wed, Feb 6, 2019, 08:08 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 06, Colombo: Sri Lanka's investment promotion agency, the Board of Investment (BOI) signed agreements for 4 new projects recently. Representing the BOI, Director General Ms. Champika Malalgoda signed the agreements with the representatives of the respective companies.

One of the agreement signed was with Arihara Lanka Dream Company (Private) Limited to set up, construct and operate a 36 roomed hotel which will be located in Dambulla. This project is a Japanese investment of US$ 3.85 million. When completed it will create 80 employment opportunities.

The Chairman and Managing Director of Arihara Lanka Dream Company (Private) Limited, Mr. Hiroshi Arihara said they were initially interested in building a hotel in the Maldives but it was difficult. "So instead we decided to visit Sri Lanka because of the beauty of the country and we chose a location at Dambulla to build our Hotel there. The main attraction of this Hotel is proximity to water, since it is close to the Lake. We also have an excellent view on the Sigiriya rock fortress."

Mr. Arihara added that they are essentially targeting guests from the European Union countries but also from Japan as well as other nationalities. "I also wish to add that in Japan, Sri Lankan Auyrveda is very popular and is yet another attraction for tourism to the Island."

The project will be a 4 star hotel and will focus on providing the guests with a very relaxed environment and excellent service, he added.

In addition to the hotel project, an Agreement was signed with Pick Pack Park (Pvt) Ltd to set up a warehousing and logistics facility which will be located at Weligampitiya, Ja-Ela. This will create employment for 10 staff and represents an investment of US$ 500,000.

Fantasia Narrow Fabrics (Private) Limited signed an agreement to set up a plant manufacturing fabrics for direct and indirect export. This project with an investment of US$ 2 million will be located at Milleniya. When completed it will create 501 new employment opportunities.

Another Company that signed an Agreement with the BOI is Intfarm (Private) Limited that will be engaged in the cultivation of salad leaves and herbs such as Dill, Rosemary, Basil, Thyme and Sage utilizing hydroponic technology and the products will be exported. The project will employ 52 staff and the value of the investment is US$ 1.19 million. The BOI also signed supplementary agreements relating to the manufacture of heat transfer labels for export, for a trading house and several other projects.


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