Board of Investment Executive Director Monitoring Renuka Weerakone, acting for the Director General, formally presents the Certificate of Registrations to investors Akul Gupta, Rohit Agrawal and Dhiraj Agrawal
The Board of Investment (BOI) of Sri Lanka recently signed an agreement with ARD Aluminium (Pvt.) Ltd to set up a US $ 1.7 million factory to manufacture aluminium food containers with lids and aluminium home foil wrap for food.
Currently, these products, which are popularly used by the catering industry, are largely imported from other countries, notably from China.
This company already manufactures 15 variants of these containers and also barbeque trays used for roasting of food. ARD Aluminium (Pvt.) Ltd will build its plant at the Mirigama Export Processing Zone and the ground breaking ceremony for the factory was held recently.
The investors, Akul Gupta, Dhiraj Agarwal and Rohit Agarwal, were present at the signing. Also present were Nishantha Gunawardana and Rohan Fernando, both Directors of the local manufacturing operator.
The BOI was represented by Executive Director Monitoring Renuka Weerakone, who was acting for Director General.
“We have the capacity to manufacture 250 tonnes of aluminium containers per month, which is the equivalent of 25 forty-foot containers. Our products will be exported to India, the United Arab Emirates and Western Europe, notably to the United Kingdom,” Gupta said.
The company can sell 20 percent of its total production in the local market.
“Our plant will employ 125 workers, who will be working in three shifts.
Also, I wish to add that our manufacturing process is environmentally-friendly and the leftover aluminium will be re-exported to India in bale form.
This manufacture will support a lot of local food industries and catering businesses as it is ideal for the delivery of hot food, which is a growing business in Sri Lanka,” Gupta said.
Manufacturing at the plant is expected to start in July 2019.