Woven Fabric Manufacturing
A suitable land to be identified for the project
To set up a textile mill for manufacture of woven fabrics to meet the annual demand of 1,000 million meters of textile materials requirement of this country. Presently the Country imports nearly 80% from abroad. There are many success stories in the manufacturing sector of Sri Lanka with foreign direct Investments. Applicable Tax Concessions shall be granted by the Board of Investment of Sri Lanka. Duty free facilities to be given for the importation of equipment, Building Materials etc. Under the BOI Incentives.
Fringe benefits and incentives offered by the government
• Market and investor friendly policies of the government. The Government has extended the array of attractive incentives for the textile industry.
• Moreover, preferential access to Indian Market including duty free concessions provided by FTA between Sri Lanka and India.
US $ 20 million and above
Major economic and social benefits
• Learning by doing and knowledge spill overs. Linkages between assemblers and suppliers, and agglomeration effects
• Employment opportunities and the proportion of female operatives in the Textile and Wearing apparel unit is significant.
• Manufacturing industries is one of the key sectors of the economy, which generates over 75% of national industrial exports.
• A wide range of targeted industrial sub-sectors are to be promoted for investment.
Significance of the project
• With a significant contribution of 30% to the GDP and 25% to the workforce, the industrial sector in Sri Lanka has become the prime force of value creation in the economic development of the country.
• Weaving is a widely used constructional method because it is cheap, basically simple, and adaptable. Woven fabrics have valuable characteristics resulting partly from the geometrical conformation of their components and partly from the fact that the components are held in position not by rigid bonding but by friction set up at the areas where they make contact. Woven fabrics are used in household, apparel, and industrial textiles.
Project can be initiated with immediate effect.
Reasons to invest
• Only country in the world that has Free Trade Agreements with both India & Pakistan
• Already giving you Free Trade access to approximately 25% of world’s population
• Free Trade Agreement being negotiated with China
Recommended way forward
1. Exclusive Mandate authorizing Local Promoter to participate on behalf of the Investor / Developer
2. Submission of Expression Of Interest
3. Submission of Initial Screening Documents by the proponent including proof of funds
4. Signing of Coorporation Agreement with the responsibility matrix
5. Submission of Preliminary Proposal
6. Obtaining in principal go ahead by the authorities
7. Develop a detailed proposal with the help of a local promoter after carrying out a feasibility study
8. Preparation of a fund raising model and a commercial proposal
9. Final approval and financial closure.
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