Business Times

Government to abide by Shangri-La agreement

The Sri Lankan Government has agreed to abide by the Shangri-La agreement after the Hong Kong-based hotel company complained that some changes were being made that violates the deal.
The authorities had planned to allocate a 5- acre block of land adjoining the Beira Lake at Galle Face, and in front of the Shangri-La hotel site to another international hotel chain which was a violation of the agreement with Shangri-La, company sources said, adding that this green belt was to kept untouched under the pact with Shangri-La.

The assurance of no changes being made was given by the government authorities to a visiting team from the hotel headed by Stanley Wong a director of the group, when they held discussions with Treasury Secretary Dr. P.B. Jayasundara, senior government and BOI officials in Colombo during the last few days.

Government officials assured that even if another tourist hotel is to come up in the area, they will not allow that building to obstruct the scenic view front of the proposed Shangri-La hotel.
The balance part of the land will be used as a common amenities and green area bordering a freshwater lake near the beachfront, without changing the original plan, the officials explained to the visitors.

Construction work on the 10-acre luxury hotel complex including high quality residencies and high-end shopping mall and the Shangri-La Hambantota leisure project will begin shortly. According to the agreement the project construction period is three to 3 1/2 years, company officials said.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
On arrival visas to continue till online visa plans mature
Textured Jersey to expand with aggressive growth
Sale and no more land leases for foreigners
Government to abide by Shangri-La agreement
BT Poll - Most people unhappy with EPF management
Hasty retreat by Nano cab!
COMMENT - Online visas could hurt tourism
FEATURE - Shot-gun regulations come under fire by industry; SEC urged to consult and regulate
Ceylon Assets Management to launch two more new funds
Strategic Risk Solutions get vital assignment at Hemas Hospitals Chain
Pensions debate at the Sunday Times Business Club meeting
BOI, Labour officials 'save CEO's life'
Corporate governance message must be taken to every part of the country: SLID President
International view of key economic drivers for Sri Lanka
Relief and more access for SMEs to credit
'Move forward' on CEPA, add services, investment : Pakistan HC
Commercial Bank introduces tri-lingual mobile application
Fitch assigns 'B+(lka)' / Stable to Entrust's Multi Finance
CB’s $125 mln in new dollar bonds to settle maturing bonds
Pawan Danavi to add 10.2 MW wind to SL in 2011
Heladiv grows tea exports in Russia, Iraq and Iran
Triple bottom-line – finding that sweet spot
CAMS offers intelligent performance solutions
Microsoft Sri Lanka connects communities across the country
ICMA Australia seminar on ‘Upswing Economies’
PCH firm ups human resource skills for better results
Fonterra enhances product testing capabilities in Sri Lanka
Huge credibility issues over state control of EPF
Govt. drafts new employment framework
Eight lucky winners of Coke competition to get Swiss holiday
CASA Colombo wins best interior design from Bloomberg
Sri Lankan remittances through BOC cross Rs. 108 billion
President assures justice to protesting 3-wheel taxis
Cloning the Padeniya rubber cooperative
CEPA discussion on poverty issues
Horizontal Inequality: does group inequality matter?
Small growers of flowers plead for state recognition


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2011 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution