Business News: The Board of Investment (BOI) of Sri Lanka has signed an agreement with Suganth Seafood (Pvt) Ltd to set up a Sea Cucumber processing factory for the export market.
The agreement was signed on behalf of BOI by Mr. Susantha Ratnayake, Chairman of the Board and on behalf of Suganth Seafood (Pvt) Ltd by Mr. Suganthaseelan Aravinthan, Managing Director.
The project, with an initial investment of US$ 1.2 Million will be set up in Jaffna. The product Sea Cucumber is harvested mainly in the North and East sea belt by specially trained divers in the seabed and processed to required dried stage in the State-of-the-Art factory which will be established in the Jaffna Peninsula. Mr Suganthaseelan , Managing Director said that “We focus on strict adherence to the Government norms, Eco- conscious methodologies, transparent business practices and on time delivery”. He further stated “the company intends to expand the business gradually thus providing more job opportunities to the local communities and enhancing their livelihood”.