Sri Lanka approves US$1.8bn in tourism projects

Dec 18, 2011 (LBO) – Sri Lanka’s tourism development office has approved 1.8 billion dollars of investment proposals to build hotels deputy economic development minister Lakshman Abeywardene said. A ‘one stop unit’ at the tourism development office which was set up in November 2010 had received 189 applications by October 2011 of which 73 had been approved, 04 have been rejected and 112 are being processed, minister Abeywardene said.

The 184 projects with investment values of 1.85 billion dollars involve building 11,809 rooms, according to ministry data.

Sri Lanka’s capital Colombo has attracted the largest investment of 903.8 million US dollars involving 3,941 room, followed by Hambantota in the south with 189.1 million US dollars (720 rooms).

Gampaha also in the Western province had drawn 179.83 million US dollars (1,512 rooms) and Galle in the South had drawn 139.6 million US dollars (1,417 rooms).

Trincomalee, in the war torn East of the island projects valued at 77.2 million involving 794 rooms had been proposed, in Jaffna 24.1 million dollars worth projects involving 298 rooms, in Batticaloa 43.07 million dollars of projects with 606 rooms had been proposed.