Sri Lanka expects most FDI for infrastructure in 2012

Jan 13, 2012 (LBO) – Sri Lanka is expecting most of the two billion US dollars of foreign direct investment targeted for 2012 to flow into infrastructure with 400 million US dollars going into tourism, an official said. Head of Sri Lanka’s Board of Investment, M M C Ferdinando said about a billion US dollars are expected to go into infrastructure in 2012.

“We are targeting about 400 million will go into tourism and the rest into IT (information technology and other areas,” he said.

Sri Lanka has signed up several large tourism projects with apartments and shopping complexes.

On Thursday the BOI signed a series of agreements valued at over 17 million US dollars including a 6 million dollar apparel factory in the island’s war torn North by Unichela (Pvt) Ltd.

Other agreements included an export fiber glass pole making plant in Biyagama for 1.98 million US dollars by Pila Manufacturing Lanka (Pvt) Ltd, a 50 million rupee fruit, vegetable and timber project by EAP Agri Business in Puttalam and a warehouse by Maxim Holdings.