Sri Lanka’s Board of Investment (BOI) has signed an agreement with Lanka Teak Ltd to establish a teak plantation to provide material for export.
Dhammike Perera, chairman and director-general of the BOI, signed the certificate of approval, which was presented to Jann Lindberg from JKL Group, which is investing LKR50m (£220,430) in the programme, by Dr Sarath Amunugama from the Ministry of Enterprise Development and Investment Promotion.
Located at Giribawa in the north-west, it is hoped that 80% of the wood produced at the plantation will be exported.
The plantation is also being launched under the Nipayum Sri Lanka 300 Enterprises Programme, which is designed to promote growth and development in rural areas outside of the Colombo and Gampha districts.
