BOI signs deals for hotel, fabric plant and warehouse and logistics centre

BOI Director General Champika Malalgoda presents the agreement to Arihara Lanka Dream Company Chairman and Managing Director Hiroshi Arihara

The Board of Investment (BOI) recently signed agreements for four new projects with a combined investment of $ 4.35 million. 

One of the agreements signed was with Arihara Lanka Dream Company Ltd., to set up, construct and operate a 36-room hotel which will be located in Dambulla. When completed it will create 80 employment opportunities and the total value of the investment will be $ 3.85 m. 

This project is a Japanese investment and Arihara Lanka Dream Company Chairman and Managing Director Hiroshi Arihara stated: “We were initially interested in building a hotel in the Maldives but that was difficult, so instead we decided to visit Sri Lanka because of the beauty of the country and we chose a location at Dambulla to build our hotel there. The main attraction of this hotel is proximity to water, since it is close to the lake. We also have an excellent view of the Sigiriya Rock Fortress.”

Arihara added: “We are essentially targeting guests from European Union countries but also from Japan as well as other nationalities I wish to add that in Japan, Sri Lankan Ayurveda is very popular and is yet another attraction for tourism to the island.”

Arihara stated that this project which would be a 4-star hotel would focus on providing guests a relaxed environment and excellent service.

In addition to the hotel project, an agreement was signed with Pick Pack Park Ltd. to set up a warehousing and logistics facility, which will be located at Weligampitiya, Ja-Ela. This will create employment for 10 and represents an investment of $ 0.5 m.

Another project is Fantasia Narrow Fabrics Ltd., which will be engaged in the manufacture of different types of fabrics for direct and indirect export. This project will be located at Milleniya. When completed it will create 501 new employment opportunities. The value of the project is $ 2 m.

Another company that signed an agreement with the BOI is Intfarm Ltd., which will be engaged in the cultivation of salad leaves and herbs such as dill, rosemary, basil, thyme and sage. This cultivation will utilise hydroponic technology and the production will be exported. The project will employ 52 staff and the value of the investment is $ 1.19 million.

The BOI also signed supplementary agreements relating to the manufacture of heat transfer labels for export, for a trading house and other projects.