BOI signs agreement with JKL Group for teak plantation project

THE BOI entered into an agreement with Lanka Teak to set up a project for a teak plantation. Using techniques based on tissue cultured plant material the company will grow teak trees of which much of the wood will be exported.

Agreements were signed at the Ministry of Enterprise Development and Investment Promotion conference room and signatories were Chairman/Director General of the BOI Dhammika Perera and Chairman and CEO of the JKL- Group, Jann K. Lindberg a Monaco based company whose activities include shipping, energy and investments.

The investor received his agreement document from Minister of Enterprise Development and Investment Promotion Dr. Sarath Amunugama.

The company will be investing Rs. 50 million on this project of which 80% of the products will cater to the international market.

It is also significant that the project will be located at Giribawa and will be launched under the Nipayum Sri Lanka 300 Enterprises Programme (300EP).