Suchir NEB Projects Pvt Ltd, Hyderabad has bagged a major contract to construct a $250 million (approx Rs.1,250 crore) 70-storey building in Colombo. The building project will be the tallest project in Sri Lanka.

The project is likely to be developed on PPP basis which is  scheduled to be completed by 2011. It will be developed in the premises of Sethsiripaya in Battaramulla in Colombo suburbs. The foundation stone for the building project was laid on 23 November 2008 by Sri Lankan Prime Minister,  Ratnasiri Wickramanayake. The total built-up area for the commercial tower including convention centre and the residential tower would be two and half million sq.ft.

The project will have administration, commercial and housing units. Of the total,  40 floors will be dedicated for commercial operations, 20 floors will be for residential purposes.

Suchir NEB Projects Pvt Ltd is a SPV formed by Suchir India, Hyderabad and NEB Rapid Infrastructure, Colombo and the Sri Lanka government.