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
New inductees of the Indian Administrative Services visit Sri Lanka
-- [17 minutes ago]
Sri Lankan President claims tobacco and alcohol use reason for poverty and poor health
-- [46 minutes ago]
Norwegian State Secretary's visit to strengthen political dialogue with Sri Lanka
-- [1 hour and 50 minutes ago]
Sri Lanka's Colombo inflation rises to 4.8 percent in May 2016
-- [2 hours ago]
Singapore Trade Minister in Sri Lanka on a working visit
-- [2 hours ago]
Sri Lanka's Shaminda Eranga reported for suspect bowling action
-- [9 hours ago]
Sri Lanka Navy arrests 7 Indian fishermen poaching in Sri Lankan waters
Sri Lanka Air Force to deploy aviation unit to the UN team in South Sudan next month
Sri Lanka state doctors' union launches island wide strike today
President instructs to expedite identifying lands for the resettlement of displaced people in North

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.