Polestar (Lanka) Garments Ltd, a subsidiary of China’s Lianfa Group, has signed a significant agreement with Sri Lanka’s Board of Investment (BOI) to invest $5.08 million in establishing a new export-oriented garment manufacturing facility.
Lianfa Group, a publicly listed company with a turnover of $1 billion and over 60 years of experience in the textile industry, aims to produce garments for international markets at the new facility. This project is expected to create 679 direct employment opportunities in Sri Lanka, further enhancing the country’s garment manufacturing sector and supporting its export growth.
Polestar Lanka Garments’ investment underscores the growing confidence in Sri Lanka’s manufacturing sector, particularly in the garment industry, which continues to be one of the country’s largest foreign exchange earners.