09 February 2012

Sri Lanka's BOI Zones to be Upgraded with Rs 3bn Investment

08th February 2012, www.dailynews.lk, By Ramani Kangaraarachchi

The Board of Investment (BOI) will invest Rs 3 billion to upgrade the twelve BOI zones in the country to be model zones within the next three years. BOI Executive Director Technical Services Sunil De Silva said the model zones will have all facilities required by the investors to benchmark with any international BOI zone once the work is completed.

He said over the years the industries in the zones have expanded and acquired new technologies but those zones have not been upgraded parallel to them. At a time that investors are looking at Sri Lanka it is very vital to address the issues that they are concerned about.

De Silva said the infrastructure development will include new landscaping and improvement to roads with asphalt concrete pavements instead of traditional ones. New waste water treatment plants also will be set up as the existing capacity is not sufficient. New facilities for solid waste management will also be introduced. Apart from that best practices, efficient services and aesthetic appearance will add value to these zones.

He said that the Katunayake BOI zone which was established in 1979 has 530 acres of land and the largest among twelve zones and today there are 84 industries and 43000 employees. Rs 280 million out of the total amount has been allocated to improve this BOI zone. The other zones are situated in Biyagama, Seethawaka, Horana, Koggala, Mawathagama, Polgahawela, Meerigama, Wathupitiwala, Kandy, Malwatta and Mirijjawila.

Related Info :

BOI Announces New Structure & Strategy to Raise FDI to 4-5pct of GDP over Next Three Years

Sri Lanka Plans an Economic Zone similar to Dubai Airport Freezone in a Bid to Attract more Foreign Investments

BOI to Establish 13th IPZ in Hambantota, Sri Lanka

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