Thursday, 20th November 2014
350 rooms and 170 apartmernts to be built on 6 acres
The ceremony to launch phase one of the mixeddevelopment project of India’s ITC took place yesterday at the Galle Face beachfront adjoining the Shangri La project.
The envisaged luxury hotel cum residences on about 6 acres is to have 350 rooms, 170 luxury apartments, retail shops, office space, a full service and excellent banqueting and cuisine for which ITC is renowned.
Speaking at the ceremony ITC Chairman, Y C Deveshwar said that this would be ITC’s first hotel project outside India and its single largest investment project anywhere. “An initial investment of USD 300 million will be made on phase one and if it markets well, we will be constructing two more wings under phase two,” he said. Adding that they would be bringing in the advantage of their training infrastructure to improve Sri Lankan skills, Deveshwar said that first preference will be given to Sri Lankan workers. “However if there is a shortage we will get down an Indian workers,” he said.
The launch took place 27 months after ITC obtained approval from the country’s Investment Promotion Agency and Ministry of Economic Development. The project is expected to be completed in 2018.
ITC is one of India’s largest hotel chains with with more than 100 hotels in 70 destinations and has the LEED platinum rating which is the highest rating accorded to ‘green buildings’ in the world.
From :http://dailymirrorepaper.newspaperdirect.com/epaper/viewer.aspx
