Bogawanthalawa, the area also known as the “Golden Valley” produces some of the finest tasting Ceylon Teas. Teas coming from this region has got a unique flavor profile. This Sri Lankan regional plantation company, Bogawantalawa Tea Estates has told shareholders it would use funds raised from a debt issue to replant tea fields, upgrade factory machinery, settle loans and set up solar power plants.

A stock exchange filing said this plantation company plans to raise 850 million rupees by issuing bonds of up to seven years with the option to convert to ordinary shares on maturity.

The circular to shareholders described how the funds would be used with 250 million rupees ($1.45 million) to be used for field development activities and 200 million ($1.2 million) rupees to buy specialised machinery and laboratory equipment.

Each year 150-200 million rupees ($0.9-1.2 million) is needed to rehabilitate soild on estates, soil building and tea re-planting and in-filling over 150 hectares, the company said.

New machinery is needed to make specialty teas for which markets are developing.

Another 200 million rupees ($1.2 million) would be used to settle high cost debt while 150 million rupees would be to develop identified solar power projects.

About the Company

The story of Bogawantalawa, also known as the Golden Valley could be traced back to 1869 during the British colonial period. It was during this time that pioneering Scottish planters came across a valley encircled by lush mountains and forests, quite unlike anything else on the island. Coffee was initially grown here however since that proved to be unsustainable, tea planting commenced in its stead. Extremely fertile soil and the elevation ranging from 4,000 to 6,000 feet was an ideal setup for a tea plantation in the Golden Valley. Bogawantalawa plantation company is also blessed with unique climatic conditions with both easterly and westerly winds that create the perfect microclimatic conditions, to produce all-round teas with a truly distinct flavour, body and aroma true to its origin.

Every leaf is carefully handpicked by the nimble fingers of our tea pluckers who have learned this intricate art which has been passed down from generation to generation at our tea plantation in Sri Lanka for over 150 years. We also take pride in the fact that Bogawantalawa Tea Estates is the world’s first tea growing, manufacturing and marketing company selling “uncompensated” carbon neutral teas being certified for both, product and facility.

References

1.Source: https://economynext.com/Sri_Lanka%E2%80%99s_Bogawantalawa_to_replant_tea,_upgrade_factories_with_debt_issue-3-12840-9.html

2.Company Website: http://www.bogawantalawa.com/