[Tuesday, February 19, 2008 - 05.15 GMT] 

The Board of Investment of Sri Lanka signed Agreements for 4 new projects with a total investment of US $ 20 million. These projects cover a range of sectors and will be generating 760 new employment opportunities. 

The project sponsored by Comfortwear is an investment of Rs. 400 million. The venture is expected to provide 430 employment opportunities which will increase the group's total workforce to 3800. The venture will manufacture swimwear for export and it has already commenced commercial operations.  

The agreement signed with Terraqua International is for a project to set up five mini hydro power plants at Halatura Ganga, Rassagala and Wewa Ganga in the Ratnapura District. This project is an investment of US $ 7.63 million. The venture is expected to provide employment for a workforce of 30 and will generate 7 mega watts of electricity.  

Cleanco signed an agreement to setup a project to operate vehicle emission testing centres in Sri Lanka. The venture is expected to provide employment opportunities for 150. The venture sponsored by Industrial Service Bureau and Akbar Brothers is an investment of Rs. 600 million. The venture will operate 16 Fixed and 40 Mobile vehicle emission testing centres of which the first one will be located at Kochchikade.  

An agreement to produce Films, TV Programmes and other visual effects was signed with Radiance Films International. The project sponsored by Light of Asia Foundation and Beyond Dreams Entertainment, India is an initial investment of US $ 2.5 million.  

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Last Updated Date: February 19, 2008 - 5.15 GMT