The Sydney-based, Energy Puzzle Group, which deals in production of solar panels, will be investing US$ 190 million to set up a state-of-the-art factory in Sri Lanka to manufacture solar panels.
According to the Board of Investment (BoI), Sri Lanka's investment promotion agency, the Energy Puzzle Group will establish its plant in the BOI's new Export Processing Zone at Mirijjawela, near Hambantota in the deep south.
In Colombo, the agreement was signed between Chairman of Energy Puzzle, Patrick Featherston and Chairman of the Board of Investment of Sri Lanka Dr. Lakshman Jayaweera.
Under various phases, Energy Puzzle will develop their operations in Sri Lanka. The first phase, covered under the agreement with the BOI, will take up production of solar cells and panels of up to 150 MW/year.
The BoI said, "However the company envisages a greater production of Solar Panels and Energy Technology in the future."
According to company's plans it will originally employ 150 staff having a mix of Sri Lankan and some Australian managers and workers.
Solar panels produced will be mainly for export purpose but some of this production will also be offered in the local market.
According to the Board of Investment (BoI), Sri Lanka's investment promotion agency, the Energy Puzzle Group will establish its plant in the BOI's new Export Processing Zone at Mirijjawela, near Hambantota in the deep south.
In Colombo, the agreement was signed between Chairman of Energy Puzzle, Patrick Featherston and Chairman of the Board of Investment of Sri Lanka Dr. Lakshman Jayaweera.
Under various phases, Energy Puzzle will develop their operations in Sri Lanka. The first phase, covered under the agreement with the BOI, will take up production of solar cells and panels of up to 150 MW/year.
The BoI said, "However the company envisages a greater production of Solar Panels and Energy Technology in the future."
According to company's plans it will originally employ 150 staff having a mix of Sri Lankan and some Australian managers and workers.
Solar panels produced will be mainly for export purpose but some of this production will also be offered in the local market.