13 September 2024 12:32 am Views - 531
Sri Lanka’s distillery sector is set to witness a notable expansion in local production as the Board of Investment (BOI) recently announced a new US$ 2.5 million investment venture with new industry entrant J.R. Distilleries.
J.R. Distilleries will establish a state-of-the-art facility to produce extra neutral alcohol and foreign spirits using locally sourced raw materials. The products are primarily intended for the export market in an effort to increase Sri Lanka’s foreign exchange earnings, according to an update by the BOI on X.
The agreement for the development of the new facility was formalised and exchanged this week between BOI Chairman Dinesh Weerakkody and officials from J.R. Distilleries.