Coco Agro Hotels to set up US $ 2.6 mn hotel in Naiwala

Coco Agro Hotels (Pvt) Ltd achieved another milestone in its business operation, focusing on leisure and the hospitality industry. In keeping up to the rising demand for upmarket hotel rooms to cater to inbound quality conscious foreign tourists, Coco Agro Hotels has finalized its plans to construct and operate a 4 to 5 Star class hotel and conference center in proximity to the Colombo International Airport, at Naiwala, Veyangoda.

This new facility will comprise of luxurious accommodation on par with 4 to 5 Star class Hotel standards and will focus on convention and conference facilities with its large banquet halls, capable of hosting functions for over 700 people.

The project will create a new product available to travelers to Sri Lanka. The total value of the investment was US $ 2.6 million.

The construction and implementation of the project will commence immediately and will run at accelerated phase and will be completed and operational by 2014. Once in operation the project will create many jobs and business opportunities for many others.

The project is very eco friendly but, will at the same time provide modern comforts and facilities to guests.

Coco Agro Hotels is a fully Sri Lankan owned company with two directors. The company's main areas of business has been the exports of coco and coir.

The investment agreement between the Board of Investment of Sri Lanka and Coco Agro Hotels was signed on May 09, 2013 by Dr. Lakshman Jayaweera, Director General of BOI and Kapila Nishantha Abeysekera, Managing Director Coco Agro Hotels, under the patronage of Faiszer Mustapha, Deputy Minister of Investment Promotion.