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Monday, August 11, 2008 - 4.40 GMT
BOI promotes experimental project to grow Olive trees

 
The Board of Investment of Sri Lanka (BOI) signed an agreement with Broucke Eco Enterprises Australia for an experimental project to grow olive trees to produce olive oil for the export market on August 7.

This project will experiment with growing olive trees imported from Cyprus to Sri Lanka and it will take about 3 years for the trees to produce olive oil, a BOI press release said.

The project with funding from Cyprus will see an investment of Rs. 20 million and provide employment for 25. The group will initially plant about 20 Olive Trees as an experiment at Mawanella and will commence operations within 3 months.

Over 750 million olive trees are cultivated worldwide, 95% of which are in the Mediterranean region. Most of global production comes from Southern Europe, North Africa and Middle East. Its fruit, the olive, is of major agricultural importance as the source of olive oil. It is commonly used in cooking, cosmetics, pharmaceuticals, and soaps and as a fuel for traditional oil lamps.




 
 
   
   
   
   

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Last modified: July 22, 2009.

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