$ 604 million from BOI investment projects in the first quarter of the year

(LANKAPUVATH | COLOMBO) –According to State Minister for Investment Promotion Dilum Amunugama, during the first quarter of this year, from January to April, investments of US$ 604 million (Rs. 182 billion) have been received through Sri Lanka Board of Investment projects.

The minister has disclosed that there are 23 new projects and 7 expansions of existing projects among the investments. In addition, the minister also said that last week agreements have been signed for 3 new projects worth more than US$ 38 million.

The agreements include the $19.8 million MCS Minerals project, which will refine mineral sand and export minerals, the $15 million Gloves International project related to iron and related products, and the $4.1 million Kenon Investment project for a super housing project.

In addition, contracts have been signed with 3 other companies on the May 26th.

Also, the minister further said that 6 more investment zones are planned to be started in the future and all the necessary steps have been taken for that. The State Minister revealed that the investment zones will be established in Kappalthura in Trincomalee, Paranthan in Kilinochchi (the site where the chemical plant was located), Kankasanthurai (the site where the cement corporation was located), Mankulam in Mullaitivu, Iranavila and Bingiri in the North West Province as Phase II.

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