Sri Lanka’s Sierra Cables to set up Fiji factory

ECONOMYNEXT – Sri Lanka’s Sierra Cables Plc said it will set up a joint venture power cable factory in Fiji, with three other partners, where the firm will own a 30 percent stake.

The investment will be 4.0 million Fijian dollars (285 million rupees), the firm said in a stock exchange filing.

Vinod Patel and Company Ltd, a 50-year old company which deals in hardware, retail and export is one of the joint venture partners.

RC Manubhai & Company Ltd, the second partner is a hardware company with outlets in Ba, Suva, Tavua, Rakiraki, Valelevu, Labasa and Lutoka.

Progress Investments (Fiji) Ltd, an investment company set up in 2015 will be the other partner.

Latest Comments

Your email address will not be published. Required fields are marked *