LOLC Group gets UDA mixed development project in Rajagiriya on BOT basis

LOLC Group has got an Urban Development Authority (UDA) contract to Build, Operate and Transfer (BOT) a mixed development project in Rajagiriya via a competitive bidding process.

The Cabinet of Ministers at its meeting on Monday approved the move to a proposal submitted by the Prime Minister in his capacity as the Minister of Urban Development and Housing. The project company is LOLC Investment Holdings Two Ltd., a subsidiary of LOLC.

The Government said investment proposals on a competitive basis were invited for the plot of land in extent of one acre one rood and 9.29 perches in Cotta Road, Rajagiriya of the UDA. The project was for design, construction, financing and transfer. The LOLC proposal was recommended by the Cabinet Standing Review Committee under the State Ministry of Urban Development, Waste Disposal and Community Cleanliness and the UDA.