The Board of Investment of Sri Lanka (BOI) granted investment approval for three new projects. BOI Chairman Dhammika Perera signed the agreements on behalf of the BOI and formally presented the BOI Certificate of Registrations to the investors.

Kings Estate (Private) Limited signed the agreement to construct a luxury housing scheme in the Puttalam District. The housing scheme is an initial investment of US $ 650,000 and will be comprised of 35 luxury houses. Construction is expected to commence in April 2009. The housing scheme is expected to be completed in 4 years and will be constructed in 2 phases.

The BOI also signed the following agreements with Sanken International (Private) Limited and CIC Agri Produce Marketing (Private) Limited.

Sanken International (Private) Limited signed an agreement to set up a regional Operating Headquarters. The venture is an initial investment of US $ 450,000. The Headquarters located in Colombo 7 will provide Business Planning & Coordination Services and Financial Planning & Treasury Management in relation to construction and property development to two of its subsidiaries. The subsidiary located in Australia is engaged in property development while the Indian subsidiary is engaged in construction.

An agreement to set up a project to cultivate banana for export was signed with CIC Agri Produce Marketing (Private) Limited. Agri Produce Marketing is an investment Rs. 55 million generating employment opportunities for 200. The Banana cultivation will be carried out in a 100 Acre land in Dambulla. The venture will export Fresh Bananas to markets in Middle East, Japan and European Countries.