De La Rue injects a further Lkr 2 billion in foreign direct investment



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De La Rue, the leading global identity and currency printing business first entered into a Joint Venture (JV) with the Government of Sri Lanka (GoSL) 32 years ago, is currently enjoying a foreign direct investment programme of LKR 2 billion to upgrade its global capability.


This facility was named as one of the five global Centres of Excellence for printing by De La Rue in 2015. The first phase of this programme, an investment of almost LKR 1 billion was recently completed to deploy ‘Single Note Inspection’ Machinery at De La Rue’s plant in Biyagama. With this deployment, stringent quality standards have been further upgraded to ensure all bank notes used by consumers are of a consistently high quality.


Additionally over LKR 1.9 billion is put back into the local economy in the form of wages, taxes and other spend related to running the local facility and offers regular training to upskill local employees. This joint venture is one of the longest and most successful examples of inward investment in Sri Lanka.


The De La Rue Lanka plant in Biyagama prints over a billion banknotes a year and, alongside other sites, helps De La Rue support the currency, identity and authentication needs of over 140 countries worldwide, including Sri Lanka. As a joint venture with the GoSL, the success of the plant directly benefits GoSL through an annual dividend. Speaking at the celebrations to mark the 30th anniversary of the Joint Venture in 2016, James Dauris, British High Commissioner in Sri Lanka praised the success of the initiative, commenting ‘The Sri Lankan government’s original investment of LKR 29 million has earned the country considerable dividends to date. In addition, the site employs over 300 highly skilled Sri Lankan employees and contributes every year to the local economy.’


 
 
 
 
 
 
 
 
 
 
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