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MBSL invests Rs 400 million:
Hotel Nallur to open February
Harshini Perera
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Janaka Ratnayaka
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The Merchant Bank of Sri Lanka PLC (MBSL) has decided to invest in
the leisure sector in Jaffna, with the tourism boom there. MBSL is a
premier investor in Sri Lanka. They have decided to improve
infrastructure facilities in Jaffna with an investment of Rs 400 million
on Hotel Nallur in Jaffna.
The venture into the hotel sector by MBSL will set standards in the
tourism industry and provide adequate facilities, MBSL Chairman Janaka
Ratnayaka told Daily News Business.
The hotel will be constructed on a considerable plot of land expected
to be completed as early as possible to address the needs of influx of
tourists to the Jaffna peninsula. “The intended investors on tourism
infrastructure will take sometime to establish on their investments.
MBSL expects to finish the construction of Hotel Nallur by February
2011,” Ratnayake said.
The Hotel Nallur will be a BOI approved three star city hotel with 80
luxury, deluxe rooms and suites.
It is expected to go for an Initial Public Offering in the near
future. The intention of the IPO will be to invite public for the
investment that MBSL has made. Hotel Nallur will create 150 job
opportunities from the construction till the completion and it will be
equipped with a swimming pool and vegetarian and non-vegetarian
restaurants. |
