Daan International Agriculture Technology of China signed an agreement with the Board of Investment (BOI) to set up a poultry farm at Katugampola in Kurunegala the district investing US$3.88 million.

Daan International Agriculture Technology Executive Director, Da'an Xu, told Daily News Business that Sri Lanka sees a rapid growth in its economy and the company has seen a big opening in the country.

The project will be carried out in three stages and over 50 employments opportunities will be generated at the first stage of the project.

He said: "We will start working after installing all machineries.

"Thirty-four acres of land in the Kurunegala district will be given for the project. The first stage of the poultry farm project will begin with the start of a hatchery and, thereafter, the company will coordinate with local farmers.

Chicken meat will be produced in third stage of the project," he said.

The company has already commenced another project in the Kurunegala district to manufacture construction related materials, investing more than US$1 million and there are plans to commence agriculture projects too.