Indian and Sri Lankan Companies Join Hands to Build a US$ 200 Million Hotel
As per the reports of South Asian News Agency, Sri Lanka's Rank Holdings, a group of companies with various business interests in Hospitality and entertainment sector has collaborated with an Indian Company to build a Hotel complex in Colombo worth US $200 at D.R. Wijewardene Mawatha.
According to the Rank Holdings Chairman Ravi Wijeratne it has declared that it would build a 5-star hotel and 171 apartments and construction of the hotel would begin by November this year.
The company has leased a 2.5 crore property on D.R Wijewardene Mawatha from Sri Lanka's Urban Development Authority to initiate the project of building a Hotel.
The finances for the Hotel would come from foreign banks, Rank Holdings and the Indian Investor as stated by Wijeratne.