Tuesday Oct 20, 2026
Tuesday Oct 20, 2026
Tuesday, 20 October 2026 02:04 - - {{hitsCtrl.values.hits}}
Trade, Commerce, Food Security and Cooperative Development Ministry Secretary and BOI Board Member K.A. Vimalenthirarajah (right) with HDDES Extracts Directors Gehan De Silva and Mevan De Silva
HDDES Extracts Ltd., an exporter of value-added, export-oriented spices, oleoresins, essential oils, and related products, and the Board of Investment of Sri Lanka (BOI), last week signed a supplementary agreement with coordination facilitated by the National Initiative for Research and Development Commercialisation (NIRDC).
NIRDC...
Through the active intervention of the NIRDC unit established at the Presidential Secretariat, and in collaboration with the BOI, the company was able to resolve the legal and administrative issues that had delayed the project for more than a year.
These efforts enabled the successful advancement of $ 26.3 million Foreign Direct Investment (FDI). Following the resolution of these issues, the Supplementary Agreement was signed to facilitate the expansion of the company’s operations through the establishment of a new, high-tech spice-processing industrial facility in Ingiriya, near the Horana Investment Promotion Zone.
The proposed facility will also include a laboratory complex dedicated to research and development (R&D) in spice processing and quality assurance.
The project is expected to generate employment opportunities, strengthen rural incomes by creating opportunities for local spice suppliers, and earn much-needed foreign exchange for the country.
The occasion was attended, on behalf of the BOI, by Trade, Commerce, Food Security and Cooperative Development Ministry Secretary K. A. Vimalaenthira Raja, who is also a member of the BOI Board of Directors, and Board member V. Govindasamy. Representing HDDES Extracts Ltd., were its Directors Gehan de Silva and Mevan de Silva. The NIRDC delegation included Director of Investment E. R. M. Idunil Gunathilaka along with other officials.
