BOI sign pacts for fresh mfg investment

Colombo: The Board of Investment of Sri Lanka signed an agreement with Swedish based electric company Etal Group Limited. The agreement signed with Etal Group is for a project to manufacture electronic components for the export market. This venture is sponsored by ElektronikGruppen, Sweden.

ElektronikGruppen is one of the Nordic region's leading suppliers of high technology electronic components, systems and production equipment for the electronics industry.

The Group has around 365 employees and conducts operations in 10 countries through three business areas with specialized knowledge in electronics and electro mechanics. This project is an investment of US $ 250,000. The venture is expected to provide employment for a workforce of 100. The manufacturing plant will be located at Ratmalana and commercial production is expected to commence in May. The venture will be using state of the art technology imported from Sweden, China and UK.
Timo Hyvonen (Director) signed the agreement on behalf of the company.