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BOI supports Teak and Mahogany plantation PDF Print E-mail
Monday, 16 February 2009 17:04

(Colombo, Lankapuvath, February 16) – The Board of Investment of Sri Lanka granted investment approval to Makola Yathama Holding (Private) Limited and Harithayojana (Private) Limited.       
     
An investment agreement worth US Dollars 8.65 million to set up a mixed development project was signed with Makola Yathama Holding (Private) Limited. The company will construct a 12 storey building in Colombo under the development project.

The building will house 2 floors of shopping area, 2 floors of seminar and conference halls and office space. The building will also have parking space for more that 60 vehicles. Construction of the complex will commence shortly and is expected to be completed within 3 years. The complex will have 120,000 square feet floor area built on land of 87 perches.

Harithayojana (Private) Limited signed the agreement for a project to grow Mohogany and Teak Plants. The plantation will be located in Arawa, Meegahakiula in the Badulla District. The project is an investment of US Dollars 180,000 and will generate employment for 75 employees initially.

The plantation will have 90 acres of land and approximately 400 plants can be planted on one acre.

17:08:18 

 

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