Two wind power projects to be set up in Jaffna | Page 3 | Sunday Observer

Two wind power projects to be set up in Jaffna

A wind turbine
A wind turbine

The BOI opened a dedicated office in Jaffna in 2010 to attract and facilitate investment into the province.

However, many opportunities still remain untapped as a result of the effects of the past conflict affecting that region in particular. The BOI places high priority on investment in the North as this effort is part of the process of strengthening inclusiveness and reconciliation in the country.

In the area of power generation there are two companies engaged in wind power, Juli Power and Beta Power. Two more wind power projects are due to be set up in the Jaffna Peninsula.

Among the other BOI investments, are six apparel manufacturers which represent an investment of Rs. 8,000 million and employs 7,917 workers. Another 15 projects in different sectors are also operational and represent investments of Rs.16,293 million and provide employment to 837 workers in the Northern Province.

Two new projects are awaiting commercial operation, five are awaiting implementation, two have been approved and awaiting the signing of the agreement and another five projects are awaiting approval.

When all the BOI projects become operational, the total investment will be around Rs. 46,484.08 million, which will result in 10,142 jobs.There are also 15 other BOI projects that are operational and involved in the manufacture of ice, fishing nets, mesh products, artificial flowers and concrete products in addition to hotels, health care and power generation.

Their total value is Rs. 16,293.30 million and 837 jobs have been created in the Northern Province through these projects. The largest in investment terms is the Northern Power Company (Pvt) Ltd with a value of Rs. 5,600 million. In employment generation terms, the Northern Central Hospital has created 278 job opportunities.Four tourist hotels have been built in the Northern Province as BOI projects. Another project that is to be developed in the Mannar district will be the breeding of prawns. This project is a collaboration between Sri Lankan and New Zealand business interests.

Shakthi Agro Industries, a joint US-Sri Lanka investment will manufacture coco peat for the export market. This project will be located in the Pallai area of the Jaffna Peninsula. This project is awaiting commercial operation.

There is also New Silk Road Aquaculture, with an investment of Rs. 425 million that will engage in the aquaculture sector. Several projects that are awaiting approval include Build Cement (Pvt) Ltd., a subsidiary of Mascon Sri Lanka and the value of investment will be US$ 22 mn. A new hospital project in Vavuniya has been approved and is to be built shortly. - BOI media release

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