Friday, 19 July 2013 03:48
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Krish Transworks Colombo Ltd. yesterday issued a statement in response to various reports on the project:
Krrish Transworks, a mega mixed use development project, was conceptualised mid 2012 and Krrish Group of India was selected by UOA after a proper evaluation on merit following the approved Government procedure for land allocation. We were extremely impressed by the high enthusiasm and exemplary conduct of all officials we met at UDA and other Government institutes which provided the right advice and moved swiftly to obtain the necessary approvals for the project From the very first MOU we made it clear that Krrish would require a staggered payment plan for land as we have the commitments to meet in several multibillion dollar ongoing property development activities in India.
We have been making payments according to the schedule agreed and so far Rs. 4,250 million has been paid to the UDA, which constitutes 85% of the total payments.
Meanwhile, our project planning has been underway with the world renowned architects/consultants Edouard Francois of France, Bob Atwal former Norman Foster of UK, Bura Happold of UK, Windtech of Australia and Coffey Geotech of Australia, who have developed a unique concept for the proposed Krrish Transworks, which will make it one of the iconic buildings in the future Colombo skyline.
However, we are disheartened by the constant adverse publicity initiated by certain parties about this project without clarifying facts with us or the relevant authorities. Constant efforts to highlight that there is a payment delay and other unfounded controversies around the project could discourage not only us but also many other potential investors who were looking positively at Sri Lanka. This has shaken confidence of the investors with whom we were in discussion for financial closure.
Krrish has dealt with the Sri Lankan Government and its officials in an extremely transparent manner and all our transactions have been above board. We categorically deny any allegation of otherwise as there was no need for it. While thanking all officials who advised us on the investment decision and supported our entry, we would request those who have been raising concerns to understand the correct facts and to support this project by appreciating the positive contribution it will make to the country in terms of foreign direct investment employment generation and economic contribution to the country.
