Work on the first BoI project in Mannar region started on 07 January. The $5mn apparel factory complex is an initiative by Timex and Fergasam Group (T&FG), the $ 60mn apparel manufacturer headquartered in Sri Lanka.
ďThe new BoI investment in Mannar starting today has set in motion the process for other BoI industries to enter the Mannar Industrial Zone, said Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen, initiating the T&FG groundwork at the project.
Once the factory starts, about 7000 jobs will be generated, 2000 direct and another 5000 indirect, the Minister revealed. T&FG made the correct decision in choosing to come here, he added.
Timex and Fergasam is a $60Mn Sri Lankan apparel producer within the top five apparel manufacturers of Sri Lanka. T&FG has won the 2006 NCE Export Award and the All Star Award 2007.