Omani tycoon invests in Kuchchaveli resort
A leading business luminary in the Sultanate of Oman Dr P Mohamed Ali
has invested over US$ 60 million in the Kuchchaveli resort development
project, the Sri Lanka Tourism Development Authority said.
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Dr P Mohamed Ali |
This initial investment was made acquiring a 20 acre land at the
beach front of the eastern coast on a 99 year lease incentive offered by
the government of Sri Lanka under the foreign direct investment policy
for tourism infrastructure development.
The Mfar Hotels Ltd. in Cochin, which is one of Dr. Mohamed Ali’s
business ventures for building world standard hotels in India, will take
over the construction and planning of the five star hotel resorts in
Kuchchaveli with more than US$ 100 million to spare for the total
project , expecting to be completed within the next six month’s time.
The reputation of Dr. Mohamed Ali and his business ventures dates back
to 1970’s where he laid the foundation to Galfar Engineering and
construction company which is today the single largest private sector
employer in Oman engaged in wide spectrum of infrastructure projects ,
mainly in the areas of oil and gas, roads and bridges, ports and waste
water treatment. |
