Sri Lanka’s Cabinet of Ministers approves a Sheraton Hotel in Colombo
By A.A.M. Nizam
Sheraton Hotel Chain of the United States through its Indian subsidiary M/s ITC limited of India, is to invest in a luxury hotel and mixed development project in Sri Lanka’s capital city Colombo.
The Sheraton group will invest U.S.Dollars 300 Million in foreign direct investment and it will be considerable boost for Sri Lankan tourism industry.
Accordingly, as per the proposal made by the Minister of Economic Development Mr Basil Rajapakse Cabinet of Ministers met under the chairmanship of President Mahinda Rajapaksa has decided to provide a block of land in extent of five acre near Army headquarters in Colombo on a 99 year lease for a sum of US $ 73.5 million as indicated by the Chief Government Valuer for this project.
The Government has embarked upon a project to convert Colombo as a Middle Income City in terms of the long term development framework of the Government.
This includes housing for shanty dwellers presently living within the city; so as to ensure better, living conditions and to provide them opportunities for urban employment and livelihood activities.
On a proposal made by the President Mahinda Rajapaksa, in his capacity as the Minister of Ports and Highways, the Cabinet has granted its approval to award the contract to set up a Cement Grinding Plant at Hambantota Port to M/s. Thatta Cement Co. of Pakistan.
Cabinet approval has already been granted for the commencement of 3 business ventures under the Hambantota Port Development Project by the respective successful bidders. They include M/s. Shree Renuka Sugar Ltd - India for operation of a Sugar Refinery Plant, M/s. Peak Energy (Pvt.) Ltd - Singapore for operation of Petro Chemical Plants (pET Resin Plant); and, M/s. Haleys Advantis Ltd for Fertilizer Storage / Processing / Bagging Plant.
The Cabinet has also approved a proposal made by the Minister of Health Mr. Maithripala Sirisena, for the reconstruction of the Divisional Hospital- Oddusudan in Mullaitivu District, Base Hospital Mulankavil, Divisional Hospitals in Poonagary and Pallai in Kilinochchi districts.
United States Pacific Command and in a sum of Rs.23 million from Domestic funds. Expeditious action is being taken by the Government to strengthen the Health Services in the Northern Province which were not functioning well during the last three decades due to the conflict situation. Mullaitivu District has 05 Divisional Secretariat Divisions consisting of 127 Grama Niladhari Divisions and Kilinochchi District has 04 Divisional Secretariat Divisions consisting of 95 Grama Niladhari Divisions. With the resettlement of the Internally Displaced Persons in these areas, it has become necessary to improve the Health Services in these areas very early.
Other proposals approved by the yesterday’s meeting of Cabinet of Ministers are:
Rehabilitation and improvement of the road from Ambepussa to Dambulla (90.5km) on the Ambepussa- Kurunegala- Trincomalee A-6 road on a proposal by the President, in his capacity as the Minister of Ports and Highways to award the contract for the supervision and the Consultancy Services of the above project to M/s Lavalin International Inc. Canada for a sum of US $723,000 and LKR 178,009,500/-. The Government has received a loan of US $100 million from the International Development Association (IDA) and a part of the proceeds of this loan is to be utilized for this project.
Construct a three storied building complex for the Agricultural Faculty of the Rajarata University which was established in 2001 at Puliyankulama. The University has 5 Faculties including the Faculty of Agriculture. The student population of the Faculty of Agriculture is over 400 and it is expected to increase the intake with the expansion of infrastructure facilities. The proposal was made by the Minister of Higher Education Mr. S.B. Dissanayake.
The total cost of the project will be Rs.143 million consultancy services of the project will be awarded to the State Engineering Corporation. The initial work of the project will be commenced with funds provided in 2011 and the balance construction work with funds provided from 2012 to 2014.
(Source: www.asiantribune.com – 02nd December, 2011)