Sri Lanka’s Finco builds two east coast resorts

July 29, 2011 (LBO) – Sri Lanka’s Finco group, which has interests in construction, export manufacturing and real estate is building two resorts in the island’s eastern coast investing nearly 16 million US dollars to expand its leisure arm, an official said. Finco, a privately held business group listed an export apparel making unit, Orient Garments, on the Colombo bourse.

Another coastal resort in Passikudah also in the East of the island, built at a cost of 900 million rupees will be launched in November 2012.

The ‘Uga Bay Passikudah’ will also be a 50 roomed resort.

A 30-year war in Sri Lanka’s north and eastern areas ended in May 2009, resulting in an influx of tourists. In 2010 arrivals rose 40 percent.

Sri Lanka’s main tourist area in the South West of the island caters mainly to the European winter season but stronger monsoon winds and rain after April makes the beaches less attractive.

The Eastern coast, which has a different rainy season, ca makes the island an year-round beach holiday destination.

The group is planning to open an 850 million rupee, 50 room resort in Kuchchaveli in the eastern coast in June 2012.

Branded ‘Jungle Beach Kuchchaveli’ the resort is built to create an experience of both the jungle a