Lanka Business Online
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A consortium led by Asian Resorts, Casinos, a Singapore based firm, will invest in Katana City Developments Private Limited, the project company.
The BOI said a 200 acre site will see hotels with 2,500 rooms, shopping malls and other facilities that will eventually bring investments of over 3 billion US dollars, and create 10,000 jobs.
"Katana City will deliver an exciting tourism offering for high volume arrivals, and the result will be a major step up in job creation, tax revenue and tourist arrivals for this vitally important sector," BOI chairman MMC Ferdinando said .
Under the development plan, Sri Lanka's main airport will be connected to the Katana City by a Monorail which will also be built by the developers, the agency said.
“This project has been planned to put Sri Lanka’s tourism offer on a par with Singapore and others in this region,” said Katana City’s director, Prashanth Koorapati was quoted as saying in a statement.
"We are planning to make sure that the concept adheres to a high standard of eco sensitivity and defines itself to show the best of Sri Lanka, not to just copy previous projects completed elsewhere."
Earlier reports had said that Sun City, a South Africa based firm will build an 800 million US dollar resort complex in Katana.
The BOI is targeting 1.7 billion dollars of investments this year, lower than 2.0 billion dollars projected by the central bank, due to weak economic conditions in the West, Ferdinando told a UK-based newspaper last month.
Since a 30-year war ended in 2009, Sri Lanka has forecast a five-fold increase of 2.5 million foreign visitors by 2016, who will generate some 2.75 billion dollars in revenues.
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