Ritz Carlton enters Lanka with Krrish partnership | Daily News

Ritz Carlton enters Lanka with Krrish partnership

An image of the the proposed Krrish square project.

Ritz Carlton will be entering the Sri Lanka leisure market.

The US based company will partner the Krrish group for the Krrish Tower project which has started piling.

International Economic Affairs State Minister Suejeeva Senasinghe confirmed to Daily News Business that the Krrish tower construction has begun. “They will partner with Ritz Carlton and will build a 70 storied tower. The Ritz-Carlton Hotel Company, L.L.C. is the parent company to the luxury hotel chain, The Ritz-Carlton Hotels.

Ritz-Carlton operates 87 luxury hotels and resorts in major cities and resorts in 29 countries and territories. The hotel company is today a subsidiary of Marriott International.

Senasinghe said that there are still some payments to be made to the government by the Indian based Krrish management. “This I think is for 80 perches in the front portion of the land where there is a colonial building.”

It was earlier stated by the Board of Investment that land titles have not been cleared for this 80 perch block.“Irrespective of this they have started construction in the other area where they had paid the government,” Minister Senasinghe said.

He also said that Thatta Cement of Pakistan is once again looking at investing in the Hambantota Port Economic zone.

“They have an environmental issue since they wanted to generate power through coal. However they have now shifted to other methods of generating power which the government is in favour.”

He also said that in addition a sugar refinery with an investor from Singapore and several other industries are set to open in Hambantota. “Many Chinese investors too are eagerly looking at investing in Hambantota in a special zone exclusively created for them.”

Thatta Cement Company Limited was incorporated in 1980 as a public limited company. It was a wholly owned subsidiary of the State Cement Corporation of Pakistan (Pvt.) Limited. The manufacturing facility was commissioned in 1982. The plant based on dry process technology, had a total installed capacity of 1,000 tons per day of clinker. 


 

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