NIRDC, in collaboration with BOI, facilitated the signing of a supplementary agreement between HDDES Extracts (Pvt) Ltd and BOI recently (16) resolving legal and administrative issues that had delayed the project for more than a year, and advancing a $ 26.3 million foreign direct investment.

These efforts enabled the advancement of the $ 26.3 million Foreign Direct Investment (FDI). 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.