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Monday, 9 January 2012 00:00 - - {{hitsCtrl.values.hits}}
Work on the first Board of Investment (BOI) approved project in Mannar region started over the weekend.
The US $ 5 million apparel factory complex is an initiative by Timex and Fergasam Group (T&FG), which is responsible for $ 60 million worth of exports out of Sri Lanka.
“The new BOI project in Mannar starting has set in motion the process for other industries to enter here,” Industry and Commerce Minister Rishad Bathiudeen said initiating the T&FG groundwork on Saturday at the project site located within the Mannar Industrial Zone.
“Once the factory starts, about 7000 jobs will be generated, 2000 direct and another 5000 indirect” Minister Bathiudeen revealed. “T&FG made the correct decision in choosing to come here” Minister Bathiudeen stressed.
Among the clients of Timex and Fergasam Group are top labels such as Marks & Spencer, Victoria’s Secret, House of Frazer, Diesel, H&M and SUZI Chin.
Timex and Fergasam is among the top five apparel manufacturers of Sri Lanka. T&FG has won the 2006 NCE Export Award and the All Star Award 2007.
Officials of Timex and Fergasam said that the upcoming factories will be the 17th and 18th manufacturing facilities to be set up by the apparel group.
According to them, the project will be in two phases-the first factory will provide direct employment for 1200 and the second, for 800. Timex and Fergasam currently employs more than 8000 across its 16 manufacturing facilities with offices in UK and Hong Kong. The Times and Fergasam officials also revealed that the first Mannar factory to start production will begin operations by mid-October 2012.
