Hotel projects in Pasikuda:

Investors cautioned on time schedules

Dharma Sri Abeyratne

Lands allocated for hotel projects at the Pasikuda coastal belt will be taken back by the Economic Development Ministry if the investors of these projects fail to commence construction within the given period, Economic Development Deputy Minister Lakshman Yapa Abeywardena said.

Deputy Minister Abeywardena strongly advised investors to commence construction of hotel projects in accordance with the agreements signed with the ministry.

The ministry has approved fourteen entrepreneurs to establish 14 star class hotels in Passikuda.

The ministry has already allocated lands for these projects. Besides, the ministry completed all the infrastructure facilities in the area spending millions of rupees.

However, certain investors have not started their projects pointing out various reasons. However, other entrepreneurs are going by the schedule. Of the fourteen projects, one hotel is functioning at present and two more hotels are scheduled to commence operation by late February and early March. A few more are nearing completion. The Deputy Minister noted that the stipulated period will not be further extended for any reason. Accordingly, if these projects are not going according to schedule, the allocated lands will be taken back and handed over to new investors.