BOI to Fast Track Approvals for $1 Bn Investments Applications in Mineral Sector

COLOMBO (News 1st): The Board of Investment (BOI) says that it will fast-track approvals for foreign investment applications targeting the country's mineral resources sector.

According to the BOI, these approvals will be granted systematically in alignment with the new regulations introduced under the recently Cabinet-approved National Mineral Policy.

Requests totaling $1 billion have been submitted by 14 foreign investors from major firms from India, Australia, and the UK.

The majority of investments include projects plans which are centered on the mineral sands industry.