The signing ceremony took place at The Office of the Board of Investment in Colombo.

The Chairman of BOI Sri Lanka, Mr. Sanjaya Mohottala welcomed the investment of approximately USD 58 Million and showed his gracious enthusiasm and support for the initiative, which is in line with the Sri Lankan Government's yacht industry aspirations.

The Government of Sri Lanka aims for the future of the marine tourism industry to develop to an internationally esteemed pedigree. The President of Sea Horse Yachts assured the commitment of the company to realise the aspirations and dreams of the Sri Lankan People.

The Project will create approximately 500 job opportunities, providing a catalyst for the development of Hambantota in particular, and the Sri Lankan Yacht Industry at large. SHY is determined to broaden the

landscape for job opportunities for future generations of Sri Lanka, particularly in rural areas such as the Southern Province in which the state-of-the-art yacht building facility will be based.