Expolanka Freight signs BOI deal to start hub operations

Wednesday, 26 February 2014 00:30 -     - {{hitsCtrl.values.hits}}

Expolanka Freight (EFL), a BOI enterprise, became the first investment company to start operation in all hub activities in Sri Lanka following the signing of an agreement with the Board of Investment of Sri Lanka under the new commercial hub regulation in December. With Sri Lanka aiming to be a global hub for apparels and other consumer product, the country is well positioned in Asia as an emerging maritime hub with the availability of deep draft ports along the east west shipping route. Following this legislation, the Government has further opened up the economy to allow free port activities including those related to international logistics and warehousing. EFL one of the leading and well recognised freight solutions providers has established Expo Global Distribution Centre (EGDC) focusing exclusively to handle international logistics and value addition activities for the fashion industry with the aim to expand into other verticals. This project marks a new frontier for both Sri Lanka and EFL to offer third party logistics and retail supply chain management solutions to global customers. EGDC will be the first company under the new regulation which can accept cargo for international warehousing and conduct value additions ultimately supporting just in time inventory models that have become increasingly popular with retail brands. The new facility is based at the Katunayake Zone and will offer full services for enter port trade, cross trade along with international warehousing and multi country consolidation. This initiative supports the Government vision of Sri Lanka becoming a commercial logistics shipping and aviation hub and is the first of its kind in South Asia.