BOI signs agreement for Katunayake’s new luxury hotel

Coco Agro Hotels (Pvt) Ltd achieved another milestone in its business operation, focusing on leisure and the hospitality industry. In keeping up to the rising demand for upmarket hotel rooms to cater to inbound quality conscious foreign tourists, Coco Agro Hotels has finalised its plans to construct and operate a four to five Star class Hotel and conference centre in close proximity to the Colombo International Airport, at Naiwala, Veyangoda.

The investment agreement between the Board of Investment of Sri Lanka and Coco Agro Hotels was signed recently, by BOI Director General Dr. Lakshman Jayaweera and Coco Agro Hotels Managing Director Kapila Nishantha Abeysekera, under the patronage of Deputy Minister of Investment Promotion Faiszer Mustapha.

This new facility will comprise of luxurious accommodation on par with four to five Star class Hotel standards and will focus on convention and conference facilities with its large banquet halls, capable of hosting functions for over 700 people. The project will create a new product available to travellers to Sri Lanka. The total value of the investment was US$ 2.6 million.

The construction and implementation of the project will commence immediately and will run at accelerated phase and will be completed and operational by 2014. Once in operation the project will create many jobs and business opportunities for many others. The project is very eco friendly but, will at the same time provide modern comforts and facilities to the guests.  

Coco Agro Hotels is a fully Sri Lankan owned Company concern with two directors. The company main areas of business are the exports of Coco and Coir.