Tuesday, January 10, 2012

Capital begins to flow to Mannar of Sri Lanka's war ravaged north

Timex and Fergasam Group which supplies to top labels such as Marks & Spencer, Victoria’s Secret, House of Frazer, Diesel, H&M and SUZI Chin is to set up a new apparel factory complex in Mannar, Sri Lanka.

US $ 5 million Board of Investment (BOI) approved project is considered a grand opening of the former war ravaged Tamil dominated area of the northwestern coast of Sri Lanka to investments.

The construction of the factory complex is now underway and the factory is to start production by mid-October 2012.

The apparel factory complex has the scope for 7000 jobs, 2000 direct and another 5000 indirect, for the people in the war ravaged, poverty stricken, unemployment spread district.

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