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
Sri Lanka NBRO issues red warning on landslides in four districts
-- [38 minutes ago]
Sri Lanka's debt crisis will worsen next year, Finance Minister warns
-- [1 hour and 4 minutes ago]
Agriculture Minister moots long term measure to prevent crop damage by wild animals
-- [8 hours ago]
Canadian PM calls for lasting peace and true reconciliation in Sri Lanka
-- [9 hours ago]
Sri Lanka Customs nab Indian national with Rs 40 million worth gold biscuits
National Export Strategy soon to be presented for cabinet approval
Sri Lanka Army offers fruit drinks to Tamils commemorating war dead in North
It is regrettable failing to differentiate the war hero and the terrorist - President
Agriculture Minister instructs implementing agricultural policies to raise income of farmers
Sri Lanka female MPs commend Media Minister for appointing female heads for state media institutions

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.