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| Monday, 16 February 2004 |
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$ 18million town development project for Kalutara Myunghim Lanka (Pvt) Ltd signed an agreement with the BOI last week to set up a town development project in Kalutara. This 100% South Korean investment to the tune of approximately US $ 18 million, spread out over three years. Chairman and Managing Director, W. D. Jagath Wickrama said that this project would be divided into eight phases, which would include a Public Market with basement car park, the reconstruction of the existing Calido Rest House with 32 rooms, two suites and a swimming pool, a shopping cum recreational centre, an integrated Courts Complex, a police complex, a medical facility centre and a youth village which would provide facilities for entertainment and vocational training and the development of the main bus stand. He added that the Public Market and the reconstruction of the Rest House would be completed by the end of 2004. Director Marketing, Lakdasa Colombage said that this project would revive the touristic potential of Kalutara and enable the town to be more self-sufficient. "We also propose to undertake six housing projects aimed at three different levels of income groups by the end of 2005," he said. |
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