BOI Chairman Mangala Yapa (right) with Omega Line Chairman Vincenzo Joppolo and Director Felix Perera
The Board of Investment of Sri Lanka (BOI) has signed an agreement with Omega Line Ltd. to reconstruct the factory building complex at the existing premises at Sandalankawa as an expansion of the existing project, representing an additional investment of $ 24 million.
The agreement was signed by BOI Chairman Mangala Yapa and Omega Line Group Sri Lanka Chairman Vincenzo Joppolo.
“The Omega Line factory will be expanded with an investment of about $24 million to rebuild our factory at Sandalankawa. It will be producing lingerie. They will be sold under the brands of Intimissimi, Tezenis, Calzedonia and Falconeri,” said Joppolo with regards to the supplementary agreement.
“A very significant part of this agreement is that the new factory which will be built, will have an area of 17,000 sq. meters with much more modern machinery, and will be employing over 3,000 staff,” he added.
Joppolo spoke further of Omega Line, which is a major manufacturer of lingerie in Italy. “We are part of the Calzedonia group which has over 4,600 shops in 42 countries including in Europe, USA, Japan, China and most recently, in Korea,” he added.