May 02, Seoul: South Korea's Hyundai Engineering & Construction Co Ltd said on Friday that it had won a US$339.30 million order to build an integrated resort in Sri Lanka for privately owned Waterfront Properties Ltd.
The company had announced this in a regulatory filing, a Reuters report said.
The firm said in a regulatory filing the contract was expected to be completed in March 2018.
Sri Lanka's conglomerate John Keells Holdings, which owns the Waterfront Properties, said Monday the project site for the mixed resort, has been handed over to the contractor and the construction has commenced following the approval received from the parliament.
JKH plans to build a luxury multi-function resort at a cost of over US$ 650 million in the heart of Colombo in the land owned and occupied by the JKH subsidiaries, Ceylon Cold Stores (CCS), John Keells PLC, John Keells Properties and Waterfront Properties in Slave Island in Colombo.