Work on Mannar’s $ 5mn apparel factory starts
Work on the first BOI project in the Mannar region commenced last Saturday with the $5 million apparel factory complex initiative by Timex and Fergasam Group. “The new BOI investment in Mannar starting today has set in motion the process for other BOI industries to enter here,” said Rishad Bathiudeen, Minister of Industry and Commerce, initiating the T&FG groundwork on January 7, 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.
Timex and Fergasam is a $60 million Sri Lankan apparel producer within 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. Among the clients of Timex and Fergasam Group are Marks & Spencer, Victoria’s Secret, House of Frazer, Diesel, H&M and SUZI Chin.