BOI Investment projects from United Kingdom will manufacture Cement and Fertilizer

The Board of Investment of Sri Lanka granted investment approval to Sterling Investments and Development Lanka (Private) Limited and D M L Holdings (Private) Limited. Mr. Dhammika Perera, Chairman / Director General signed the agreements on behalf of the BOI and formally presented the BOI Certificate of Registration to the investors.

The agreements signed with Sterling Investments and Development Lanka (Private) Limited and D M L Holdings (Private) Limited will lead to manufacturing of cement and fertilizer for export. Investment for both Sterling Investments and Development Lanka and D M L Holdings are sponsored by UK based AML Products. AML Products engages in trading commodities in Eastern Europe. The two ventures will create 100 new employment opportunities initially and is expected to commence commercial operations within two months.

The investment agreement with Sterling Investments and Development Lanka (Private) Limited worth US $ 5 million is for a project for grinding and bagging of cement. The venture will establish four state-of-the-art manufacturing plants, including Galle, Vavuniya and Colombo. The products will be exported to countries such as Tanzania and Libya, and will also be provided to the local market.

D M L Holdings, a project under Nipayum Sri Lanka 300 Enterprises Programme signed an agreement to manufacture fertilizer for local and export markets. The fertilizer will be manufactured in a fully automated state-of-the art manufacturing plant at Wenappuwa using locally available raw material. The company will manufacture fertilizer such as single super phosphate, triple super phosphate, and diammonium phosphate. The products will be provided to the local market and also exported to countries such as Tanzania, Libya and Bangladesh.

Mr. David Gluck, Director stated that he is happy with the service provided by the Board of Investment and looked forward to having good relations with Sri Lanka.

Directors of Sterling Investments and Development Lanka (Private) Limited and     D M L Holdings (Private) Limited Mr. Mendel Gluck and Mr. Lawrence Fernando signed the agreements on behalf of both companies.