South African firm to make major investment in Sri Lanka tourism

4 January 2012: A South African firm is to invest US$ 800 million (approx Rs.4,264 crore) in a tourism project in Sri Lanka to build a hotel complex in the northwestern coastal town of Katana. According to the sources, the Tourism Board Nalaka Godahewa South Africa's Sun City resort will make the investment in a 200-acre private property.

The investment, to be made on Sri Lanka's hotel city in Katana will be the largest ever investment in the country's leisure sector. However, the Sun City resort, run by South African gaming and hotels group Sun International Ltd has not revealed its plans yet. Since the end of the war against the Tamil Tiger terrorists in May 2009, Sri Lanka has seen increasing tourist arrivals every year for the past two years.

Source: Khallej Times