Polestar Lanka Garments invests US $ 5.08mn in Sri Lanka; to create 679 jobs

Polestar (Lanka) Garments Ltd, a unit of China’s Lianfa Group, has signed an agreement with the Board of Investment (BOI) to invest US $ 5.08 million in a new export-oriented garment manufacturing facility, the BOI announced yesterday.
Lianfa, a publicly listed company with a US $ 1 billion turnover and 60 years of textile industry experience, will establish the plant to produce garments for international markets. The project is expected to generate 679 employment opportunities in Sri Lanka. 
The investment is seen as a reinforcement to Sri Lanka’s position as a key apparel manufacturing hub.