Korean Chips

Koreas Myunghim Lanka (Pvt) Ltd has signed up to build a US$ 18 mn township development project in Kalutara.
The Board of Investment says the 100 percent South Korean investment will be spread over three-years, to give the Kalutara town a face lift.rn

rnThe project would evolve in eight phases. rn

rnFirst a Public Market with basement car park will be built, followed by a shopping cum recreational centre, an integrated Courts and Police complex and a medical facility centre.rn

rnThe towns main bus stand will also get a facelift.rn

rnThe existing Calido Rest House will be revamped to include 32 rooms, two-suites and a swimming pool.rn

rnThe Koreans will also build a Youth village, which would provide facilities for entertainment and vocational training. rn

rnThe Public Market and the Rest House renovation is expected to be completed by end 2004.rn

rnThe firm is also looking at building six housing projects aimed at three different levels of income groups by the end of 2005. rn

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