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
Reginald Cooray takes oaths as new governor of Northern Province
Scarcity of multi-tenanted Grade A office buildings in Sri Lankan capital city
'Joint opposition' is not for women's rights in Sri Lanka - PM
Over 100 harassed migrant workers return to country from Kuwait
Sri Lankan President to visit Germany to strengthen economic and trade cooperation
ICRC to work with Sri Lankan government on missing persons
Sri Lankan government not averse to international participation in the accountability mechanisms, PM says
SLFP to take disciplinary action against members criticizing the party leadership
Program to enlighten media personnel on proposed constitution
State minister pays surprise visit to fish market to look into public complaints of corruption

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.