Cabinet agrees to major tourism projects in Colombo
The Sri Lankan Cabinet has agreed to two major projects in Colombo which will enhance the tourism potential of the capital.
One project will see a new casino, hotel complex and other facilities built by 2016 and backed by Australian gambling magnate James Packer. The other project worth around $650 million will be delivered by local conglomerate John Keells Holdings (JKH) and will include luxury apartments a convention centre, shopping mall and offices.
The somewhat dry announcements for the two decisions as published on the Cabinet website are as follows:
“Proposal to set up and operate an Integrated Resort at D.R. Wijewardene Mawatha, Colombo- this would include a hotel with a minimum of 400 rooms, convention facilities, restaurants and other associated facilities with a total investment of US $350 million. The project will generate direct employment for 2600 local employees and will also create indirect employment opportunities. The proposal made by Hon. Lakshman Yapa Abeywardena, Minister of Investment Promotion, to proceed with the activities relating to the award of the project and matters connected thereto, was approved by the Cabinet.”
“Integrated Tourism Related Project to be set up at Glennie Street and Justice Akbar Mawatha, Colombo 02.- the proposal made by Hon. Lakahman Yapa Abeywardena, Minister of Investment Promotion, to implement a project to set up a luxury multi / mixed use Integrated Resort consisting of the convention centre, entertainment facilities, international standard shopping mall, luxury condominiums and office space with a total investment of US $650 million, which will create direct employment opportunities for 3000-4000 persons during the construction period and in addition, 3000 direct and indirect employment on commencement of business operations, and to grant concessions under the Strategic Development Project Act, No.14 of 2008 (as amended), for the project, was approved by the Cabinet.”