Sri Lanka’s Board of Investment approves setting up of warehouse and container depot near key export processing zone in Western Province
The Board of Investment (BOI) of Sri Lanka has reportedly approved a project to construct a warehouse and container depot near the Biyagama export processing zone in a bid to enable exporters easy and quick access to raw materials and machinery and ship outbound finished products.
The project by Skylift Container Depot and Logistics (Private) Limited, with a total value of US$ 1.83 million will be located at Walgama, Malwana and employ 49 people, the Board of Investment has noted in a statement.
“We have considerable experience in handling of logistics and container depots both in Sri Lanka and in Melbourne, Australia,” the BOI statement has quoted Roshan Buthgama, Director and Managing Director of Skylift as saying.
“We are confident that many of the BOI enterprises at the Biyagama Export Processing Zone will be our future customers, as this will be very advantageous for all companies.
“The activities of the logistic center would include handling of both inbound containers which would include raw materials and machinery and outbound finished products.”
According to the BOI, the firm will set up a facility that would be engaged in warehousing and logistic services with a container depot.
OSL take:
The construction of a warehouse and container depot near the Biyagama export processing zone would provide an added incentive to the exporters currently engaged in businesses within the zone. The latest project approved by the country’s BOI would also be beneficial to future investors in the export processing zone as well. The BOI already offers many incentives to foreign investors to the country and the proposed warehouse and depot would be a further development to the infrastructure related to the zone. Therefore, foreign businesses looking at setting up industries in the South Asian region could look at investing in the Biyagama export processing zone or similar industrial zones.
| Article Code : | VBA/AT/11012019/Z_2 |