‘Hambantota Hyatt funds to be transferred to Colombo Hyatt’ | Daily News

‘Hambantota Hyatt funds to be transferred to Colombo Hyatt’

 

 Investigations will begin regarding the investment of public money in commercial ventures, Health Minister and Co-Cabinet Spokesman Rajitha Senaratne said. 

He made this statement referring to Rs 315 million that has been spent to construct a Hyatt Regency Hotel in Hambantota similar to that of the Grand Hyatt in Colombo, adding that the constructions of the said hotel has not commenced.

The minister was speaking at the Cabinet press briefing at the Government Information Department yesterday.

The Cabinet statement noted that Rs 18.5 billion was invested by the Sri Lanka Insurance Corporation, Employees Provident Fund and Litro Gas Lanka Ltd in the equity of Canwill Holdings (PVT) Ltd for the purpose of construction of Grand Hyatt Colombo Hotel through its fully owned subsidiary Sinolanka Hotels and Spa Pvt. Ltd and the constructions commenced in 2012. “It was decided to invest Rs 4 billion for the construction of the said hotel in Hambantota. Considering the proposal made by Public Enterprise Development Minister Kabir Hashim to use the funds allocated for Hyatt Regency in completion of the Grand Hyatt, Colombo Hotel, was approved by the Cabinet of Ministers,” Minister Senaratne said.

He further said that two storeys at the Grand Hyatt Colombo Hotel were constructed with super luxury facilities by the former government similar to the SriLankan Airlines plane that was turned into a luxurious compartment.

“The plane is used for commercial purposes now and the two storeys at the Grant Hyatt will also be converted into normal apartments similar to others that are being constructed,”he added. 


 

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