Home / All / Textile Market / Sri Lanka’s investment board signs pacts worth $60.86 mn
Middle East textile Journal February Digital Issue
Garment and apparel

Sri Lanka’s investment board signs pacts worth $60.86 mn

Sri Lanka’s Board of Investment (BOI) recently signed $60.86 million worth investment agreements with local and foreign investors in apparel, logistics, plant tissue culture and packaging sectors. The largest such project was signed with W U S Logistics (Pvt) Ltd to set up a logistics city in Negombo with a committed investment of $49.8 million.

The logistics city will include warehousing facilities, cold room facilities, in-house value addition and multi country consolidation services, auditorium, business communication centre, exhibitions centre, logistic education centre and research & development facility, according to Sri Lankan media reports.

The BOI also signed a $3.5-million agreement with First Steps Babywear Lanka (Pvt) Ltd to set up a plant in Modarawila Industrial Estate, Panadura, to manufacture garments and other textile products, especially baby wear, for export.

Y.C.G Packaging (Pvt) Ltd signed an agreement worth $7.6 million to manufacture garment accessories like hand tags, price tickets, over riders bands, body card, colour bands, body bands, label PVC, satin labels, size labels, booklets and packaging boxes.

About Kohan Journal

Kohan Textile Journal is the leading magazine for the Textile industry, Textile machinery, Synthetic Fibers and Nonwovens in MENA region (the Middle East and North Africa) and is published every two months. It basically emphasizes on textile machinery, textile products, carpet and synthetic fibres distributed among the factories, manufacturers, and traders of floorcovering industries.l

Check Also

Essity divests 50% stake in Turkish firm

Essity divests 50% stake in Turkish firm

Sweden-based Essity AB has announced that it will be divesting 50 per cent of its …

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected!!