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Apparel sector bullish Browns to invest Rs. 15.3 b to set up country’s most modern, largest textiles plant
Bullish on the prospects for the export apparel sector, Browns Group is investing Rs. 15.3 billion to put up the country’s most modern and the largest textiles plant in the Kurunegala District.
The Board of Investment (BOI) agreement to this effect was signed recently between Brown and Company PLC Group CEO T. Sanakan and BOI Director General Renuka Weerakone.
Sanakan, along with new Project Division Heads Dulip Samaraweera and Charitha Jayasingha has taken the initiative to save extensive outflow foreign exchange on the import of much needed fabrics for the apparel manufacturing industry for exports.
The Project is driven with the expertise of Prithiv Dorai and Kenneth Wijesuriya, who have a vast knowledge in textile manufacturing industry.
Currently Sri Lanka’s apparel and textile industry is the leading income generator in foreign exchange amounting to $ 5 billion dollars of which almost $ 3 billion is spent annually on import of raw materials.
Brown and Company said the project will be established in Mahakandura, bringing in employment to approximately 800 persons in the Kurunegala District. The plant will embrace the green concept in textile manufacturing with modern state of art machinery with very latest in technology.