📈 NIRDC & BOI Unlocking $ 26.3 Mn Investment in Value-Added Spices

HDDES Extracts Ltd. has signed a supplementary agreement with the Board of Investment (BOI), facilitated by the National Initiative for Research and Development Commercialisation (NIRDC) under the Presidential Secretariat, to advance a $ 26.3 Mn Foreign Direct Investment (FDI). • Key Highlights & Investment Scope: - Resolves administrative and legal delays exceeding one year to unlock $ 26.3 Mn in FDI. - Secures expansion for spices, essential oils, and oleoresins—key high-value sectors complementing traditional agricultural exports like tea. - Establishes a new high-tech processing facility in Ingiriya, near the Horana Investment Promotion Zone. - Integrates an R&D laboratory complex dedicated to quality assurance and innovation. • Socio-Economic Impact: - Expands high-value agro-processing capabilities to drive export diversification and generate foreign exchange. - Boosts rural livelihoods by integrating local spice growers into supply chains. - Creates skilled employment opportunities across processing, laboratory, and operational divisions.