BOI approves two new projects
The Board of Investment of Sri Lanka granted investment approval to
Beira Enviro Solutions and K D U Mini Hydro Power to commence
operations. Dhammika Perera, Chairman / Director General signed the
agreements on behalf of the BOI and formally presented the BOI
Certificate of Registration to the investors.
Beira Enviro Solutions (Private) Limited, an agreement worth an
initial investment of US $ 1 million was signed with Beira Enviro
Solutions (Private) Limited. The venture is a project to manufacture
plastic resins mono filaments and other products for the export market.
The company will collect PTE waste such as plastic bottles for
processing. Initially collection would be done in the Western province
and will be expanded starting from the Southern province.
Processing will be carried out in the state-of-the-art processing
plant located at Horana. The project will generate direct employment
opportunities for 50 and is expected to provide 300 to 400 indirect
employment opportunities. Commercial operations of the venture will
commence in 6 months and will export the products to Australia, Europe
and North America.
Sanjay Kulatunga, and V. Selvaraj, Directors of Beira Enviro
Solutions (Private) Limited signed the agreement on behalf of the
K D U Mini Hydro Power (Private) Limited. An agreement was signed to
set up a mini hydro power plant at Bopattha, Ratnapura.
The power plant is an initial investment of US $ 3 million. The
company will generate hydro power using the waters of Denawaka Ganga.
The power plant will provide 1.5 mega watts of power to the national
grid. Construction of the plant has already commenced and is expected to
be operational by March 2010. Chairman of K D U Mini Hydro Power Limited
Saman Upasena signed the agreement on behalf of the company.