Land for Sri Lanka Volkswagen Assembly Plant Secured

Lankabusinessonline, Apr 11,’16

Sri Lanka’s Board of Investment has helped to secure land for the setting up of a Volkswagen assembly plant at the Kuliyapitiya area in Sri lanka. This land will be taken over by the BOI and would be formally handed over by the investment promotion agency to M/s Senok Automobile (Pvt) Ltd., for the assembly of cars manufactured by Volkswagen AG, the renowned German Company.

The investor will assemble vehicles in the 1000 cc to 2000 cc category and these vehicles will be diesel powered and include passenger cars, SUV, MUV or commercial vehicles. Initially these vehicles would be marketed locally for a period of 3 years and thereafter to overseas markets.

There is also potential to export petrol/electric/ hybrid vehicles built without the concessions given for assembling diesel vehicles. The total value of this project is an investment of 26.5 million dollars of which 21.5 million will be invested in fixed assets within a period of 24 months.

Pact Inked for $200 mn Investment in Studies

Moneycontrol, Apr 08,’16

Shareholders of the Turkmenistan- Afghanistan-Pakistan-India (TAPI) Pipeline Company Limited has signed an agreement to invest USD 200 million in studies and engineering for the USD 10 billion project to transport natural gas to energy-hungry countries like India.

Aavishkaar Announces Its First Investment in Sri Lanka with MA’s Foods

Indiainfoline, Apr 08,’16

Aavishkaar, one of the world’s leading impact investor, marks its first foray in Sri Lanka with an investment in Ma’s Foods. The South & South-east Asia focused Aavishkaar Frontier Fund has agreed to invest LKR 300 million in MA’s Foods, Sri Lanka’s premium food processing company. This investment will enable MA’s Foods to accelerate its new phase of growth, expand into the North of Sri Lanka and meet its strategic plan objectives. For Aavishkaar, this is the second investment from its Aavishkaar Frontier Fund (AFF), a regional fund which invests in Sri Lanka, Bangladesh, Indonesia and Pakistan.

Italian Companies Interested to Invest in Pakistan

Dailytimes, Apr 07,’16

The Board of Investment (BOI), Pakistan, in collaboration with the Embassy of Pakistan in Italy, organised Pakistan’s first Business and Investment Forum in Rome. A number of sectors were represented in the forum including packaging products, agro chemicals/agricultural machinery, fertilizers, environmental products, chemicals, industrial equipment/industrial machinery, pharmaceutical products, footwear equipment, services, design, laboratory equipment and railway equipment. Around 125 Italian businessmen/companies representing different sectors participated in the forum.The purpose of the visit is to invite the Italian businessmen to invest in Pakistan and expand trade relations between the two countries.

Mamnoon asks Saudis to invest in Pakistan

Thenews, Apr 06,’16

The Pakistan President Mamnoon Hussain has urged upon Saudi investors to invest in Pakistan’s energy infrastructure and agriculture sectors. In a meeting with Saudi parliamentary delegation led by Dr Abdullah bin Mohammed bin Ibrahim Al Sheikh Chairman of the Shura Council at Aiwan-i-Sadr, the president said business-friendly environment in the country had encouraged foreign investment.