BoI Signs Agreement For Tourism Zone In Katana
The Board of Investment (BOI) has signed an agreement with tourism developer Katana City Developments (Pvt) Ltd to assess and plan the country’s first large scale tourism zone.
The tourism zone is to be located at a 200-acre site in the Katana area near the Bandaranaike International Airport in Katunayake.
The agreement entails a detailed analysis, feasibility planning and the fast track implementation of the infrastructure and legal arrangements to drive foreign direct investment into the project, the government said.
The Government Media Department has stated the project, known as Katana City, is planned to include 5-star hotels with over 2,500 rooms, multiple shopping centers, attractions, retail, parks and extensive entertainment.
The airport will be connected to the Katana City by a Monorail, which will also be built by the developers.
The BOI’s Chairman and Director General, M. M. C. Ferdinando has said that the project, when fully developed will deliver an exciting tourism offering for high volume arrivals creating an estimated 10,000 employment opportunities and tax revenues.
Katana City’s Director, Prashanth Koorapati commented that “this project has been planned to put Sri Lanka’s tourism offer on a par with Singapore and others in this region – and additionally we are planning to make sure that the concept adheres to a high standard of eco sensitivity and defines itself to show the best of Sri Lanka, not to just copy previous projects completed elsewhere.”
During its course, the Katana City project will have over US$3 billion in construction and investment.