Dinesh Ambani Signs Iced Tea Project in Sri Lanka on behalf of Walters Bay Bogawantalawa

01st June 2010, www.dailynews.lk

Bogawantalawa Tea Estates PLC Chairman Dinesh Ambani, signed the BOI agreement on behalf of “Walters Bay Bogawantalawa Estates (Pvt) Ltd” to setup a state-of-the-art processing centre to manufacture iced tea in packaged form for export to Walters Bay US, in fulfilment of its contract obligations with the global multiple brands.

The initial investment would be US $ 2 Mn to set up the processing centre which provides the entire iced tea program including the brewing machine, the water filter system and own water recipe with adjusted TDS/hardness to guaranteed consistency of its product quality.

Bogawantalawa Tea Estates PLC (BTEL) is a Blue Chip Plantation Company. Its group annual turnover exceeds US$ 30 million.

BTEL shares at present are actively traded at the Colombo Stock Exchange.

The company’s high grown tea estates are located in the Bogawantalawa Valley known as the “Golden Valley of Ceylon Tea”, producing some of the most sought after high grown teas in the world.