Norway Invests in Agri-Forestry Project Based on Out-Grower Farmer Model

11th November 2009, www.dailynews.lk

The Board of Investment of Sri Lanka granted investment approval for Pure Nature Limited to set up a project to cultivate and process fruits in Havampitiya, Moneragala. Chairman/Director General Dhammika Perera signed the agreement on behalf of the BOI and presented the BOI Certificate of Registration to the investors.

The venture is an initial investment of Rs. 75 million, sponsored by Norwegian investors. The project which will be based on the out-grower farmer model will initially provide employment for 200 out-growers.

The venture expects to expand operations to an investment of Rs. 200 million providing employment for 1000 out-grower farmers in Havampitiya, Moneragala.

The agri-forestry project would focus on growing Maize as the main crop while growing seasonal crops such as Sesame and Soya. A plantation will also be established on a 25 acre land.

He also said that Maize has a high local demand and that the company expects to export to the European and US markets. Asia Plantation Capital Directors Arne Fiortort and Arjuna Dissanayake signed the agreement on behalf of the company.

Image: Chairman/Director General Dhammika Perera BOI presents the BOI Certificate of Registration to the investors of Pure Nature Limited.