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International Arbitration Centre to be established in Sri Lanka |     Electricity tariff reduction for hotels and shops from this November                                          A Special Tax Scheme for the motor vehicle imports instead of the current system                                          Value Added Tax reduced to 11 percent |     Aerospace Engineering Unit will be established at the Moratuwa University | EPF payment from the employer to be increased to 14%                                          Sri Lanka Customs to have a One Stop Service Center |  Import tax removed on infant milk food                                          A special duty scheme on motor vehicles for foreign employed individuals |  Main Sri Lankan towns to be developed under a special Urban Development Programme                                          
Sat, 25 October 2014 09:33:04
Sri Lanka cable firm to build hotels
20 Jan, 2011 18:43:38
Jan 20, 2010 (LBO) - Sierra Cables, a listed power cable maker said it will build hotels in a joint venture with another group as strong tourist arrivals increased drew investment capital into the sector.
Sierra Cables said in a stock exchange filing it will put 250 million rupees into two hotel projects with Free Lanka Capital Holdings.

In 2010 tourist arrivals were up 46 percent to 660,000 after a 30-year war ended in May 2009.

Colombo is to see at least two 500 million dollar hotel and apartment development complexes on state land and existing leisure chains are also building new hotels in the coast.

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