Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

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
Sri Lankan sailor found dead in ship at Dhamra port in Odisha
-- [43 minutes ago]
Rangana Herath to captain Sri Lanka in Zimbabwe
-- [1 hour and 28 minutes ago]
Indian Foreign secretary, Sri Lankan President discuss economic cooperation
-- [1 hour and 46 minutes ago]
Sri Lanka Navy ship Sagara leaves for joint Coast Guard exercise with India and Maldives
-- [2 hours ago]
National Police Commission to conduct separate investigation into Jaffna University students' deaths
-- [9 hours ago]
Australian miner assesses mineral sands deposits in Puttalam, Sri Lanka
-- [9 hours ago]
Indian Foreign Secretary arrives in Sri Lanka with a business delegation
Sri Lanka to set up an international multi intelligence unit to combat illicit drug trade
Sri Lankan President reiterates commitment to achieve development through renewable energy generation
Sri Lanka, India navies discuss maritime security at the 27th IMBL meeting aboard Indian naval ship

Copyright © 2000, 2012 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, 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, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.