Bairaha Farms PLC. signed an agreement with the BOI to set-up a large scale, state-of-the-art broiler farm in a 48 acre land located in the Puttalam District. This project will be set-up under a newly incorporated wholly owned subsidiary company of Bairaha Farms PLC named Nature's Best Industry Ltd.
Nature's Best Industry Ltd, will enjoy a ten years tax holiday from the first year of making profit or not later than two years from the date of commencement of commercial operation, whichever comes first.
This farm will be constructed in line with the prevailing norms and standards of other reputable poultry companies in the world. The size of each poultry house will be much bigger, and the specifications of these buildings will be technically more advanced to enable to maintain outstanding hygiene and cleanliness.
The expected investment in the first year will be nearly Rs 120 million and the total additional investments in the second and third years will be Rs 240 million. Bairaha estimate that this project will increase their commercial broiler production capacity by about 20 percent in the first year, about 20 percent in the second year and about 15 percent in the third year. Accordingly, depending on market conditions the turnover of the company is also expected to increase in those years.
The company has planned for the first batch of birds to come out of this farm by April/May 2011. Once the farm in is operation, Bairaha Farms PLC will be able to further consolidate its position in the branded chicken market. Then, Bairaha Farms will be in a position to make more packeted branded chicken available in the market, to be sold at the price stipulated by the Government.
source - www.dailynews.lk
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