Lankapage Logo Recent Top Stories
CP 13 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Indian Company to develop US$ 140 million hotel complex in Sri Lanka
Thu, Oct 4, 2012, 08:56 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 04, Colombo: The Sri Lankan government has given permission for a Kolkata-based Indian public conglomerate company, ITC Limited, to set up a multi-faceted mixed use development project in a prime land in the Sri Lankan capital Colombo.

The Cabinet has approved a proposal made by Minister of Economic Development to allow ITC Limited to set up a hotel-shopping complex at an investment of US$ 140 million.

The proposed complex that includes luxury hotels, high quality residencies and shopping malls is to be built at on a section of the property of former Army Headquarters premises facing the Gall Face Green in Colombo.

The Cabinet has approved to recognize this project as a Strategic Development Project and to grant necessary exemption accordingly.

ITC is a diversified conglomerate that has a presence in Fast Moving Consumer Goods (FMCG) and Hotels among other businesses. The Company is the second largest hotel chain in India with over 100 hotels.



ColomboPage - Recent 10 Stories
World Bank South Asia Region Vice President arrives in Sri Lanka
-- [1 hour and 10 minutes ago]
'Those who have skeletons in closets are scared of OMP' - JVP
-- [2 hours ago]
SLFP will not contest under swan symbol -Minister
-- [2 hours ago]
Gazette notification reducing prices of pharmaceuticals by Aug 31
-- [4 hours ago]
Sri Lanka Navy arrests man transporting 50 kg of Kerala Cannabis
-- [4 hours ago]
Indian Minister's cancelled visit to Sri Lanka not linked to ETCA
-- [4 hours ago]
U.S. Navy submarine tender to arrive in Sri Lanka tomorrow
-- [5 hours ago]
Two Sri Lankan students participate in the CERN Summer Student Programme for the first time
Commercial Bank declared the 'Strongest Bank' in Sri Lanka
LeJ terrorists involved in the attack on Sri Lanka cricket team killed

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.