The Chairman/Director General of the BOI formally hands over the certificate of registration to the investors of Nakshatra Overseas (Private Ltd).
Approval has been granted for a diamond trading house to be set up in Sri Lanka.
The investment agreement that was facilitated by the BOI is worth US$1.6 million. The foreign investors, Nakshatra Overseas (Private Ltd). The facility when established will import un-cut diamonds, cut and polished diamonds as well as other precious stones for re-export.
The venture also has plans of establishing a gold and diamond jewellery manufacturing plant in the near future. The gold and diamond jewellery plant will provide employment for over 100 people.
Precious stones and diamonds will be imported from countries such as Brazil, Belgium, Japan and Hong Kong. The processed products from the venture will be exported to the U.K, Singapore and Middle East. Commercial operations is expected to commence in two months.
The agreement was signed by Mr Mr. Santosh Doshi, Managing Director of Nakshatra Overseas (Private) Limited on behalf of the company.