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Sept 15, 2011 (LBO) - Sri Lanka's Cargills (Ceylon) Plc, which owns the island's largest retail chain and is part of a group with cinema businesses, plans to build a shopping and entertainment complex in the former northern war zone.
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"The company is set to invest 500 million rupees in the development of a new shopping and entertainment complex in the heart of Jaffna town," the company said in a stock exchange filing.

The ground-breaking ceremony is to be held Thursday morning at the project site on Hospital Road in Jaffna, which was badly affected by the island's 30-year ethnic war which ended in 2009.

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Cargills also has interests in food processing and runs a chain of supermarkets under the 'Food City' brand has been expanding in recent months.

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The firm is part of CT Holdings formerly known as the Ceylon Theatres group.



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Last week it announced plans to get into banking with central bank approval being received to set up Cargills Agriculture and Commercial Bank.
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