BoI approves three investment proposals

Colombo: The Board of Investment of Sri Lanka granted investment approval to Janet Lanka, Hirdaramani International Export and E A Graphics Lanka to commence operations on new projects.

Janet Lanka (Private) Limited signed an agreement to manufacture herbal and ayurvedic, health and beauty care products. The venture is an investment of Rs 77 million sponsored by Janet Cosmetics and Janet Ayurvedics.

The cosmetic products will be available in Sri Lanka and will also be exported to international markets. The production plant located at Panadura will provide employment for 200. Commercial operations are expected to commence immediately. Directors of Janet Lanka Shiwantha Dias and Charmaine de Alwis signed the agreement on behalf of the company.

Hirdaramani International Export (Private) Limited signed an agreement to set up a garment export trading house at the premises of Hirdaramani Garments Limited at the Katunayake Export Processing Zone.

The venture is an investment of US $ 575,000 sponsored by Hirdaramani Group of Companies. The venture will purchase products from local manufacturers and export to the markets in the European Union and United States.

The venture will provide employment for 50 and commercial operations are expected to commence immediately. E A Graphics Lanka (Private) Limited signed an agreement to undertake printing services for the local market. The venture is an investment of Rs. 44 million sponsored by Indian investors.

The venture will provide employment for 50 and is in the process of establishing the infrastructure for the project. The company expects to commence commercial operations within 1 year.

E A Graphics Lanka (Pvt) Limited, is an integrated offset printing press that caters to its customers as a one-stop facility offering end-to-end offset printing solutions in prepress, printing, finishing and binding. The company is equipped with the latest printing machinery that can print anything from single to eight colour on any material.

Directors S. Sudarshan and Samuel Saju signed the agreement on behalf of the company.