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by Florence Wickramage

The lease on the 100 perch block of land where the Prima Complex is situated at Sri Jayawardhanapura has been renewed for the Prima Multinational Company for a further period of 55 years for Rupees One hundred only on 26th April, 2001. The Cabinet has approved the renewal of the lease and the agreement renewing the contract has been signed by the then Chairman of the Land Reclamation Board Dilip Wijesundere and the General Manager D. T. Talagala.

With the surfacing of this information the Corporation was taking steps to make a full assessment of the properties belonging to the State coming under the purview of the Corporation, Mr. V. Sathyanandan, the Chairman of the Sri Lanka Land Reclamation and Development Corporation said on Tuesday.

Mr. Sathyanandan further stated that all such agreements the former Land Reclamation Board had entered into would be studied in detail and where such agreements are found not beneficial to the Corporation and the country, action would be taken to re-negotiate same.

The Prima Company had earlier leased out this property for a period of 25 years for Rs. 600,000/- being the land value on the property at the time of the first lease. This lease had expired and had been renewed on 26th April, 2001.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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