BOI Signs Agreement Worth $29.32 Million with John Keells Hotels and Indra Traders

22nd September, 2020 News and Updates

The Board of Investment of Sri Lanka has signed an agreement worth $29.3 million with Indra Hotels and Resorts Kandy Ltd, to build a 160-room, three-star, lean luxury hotel in Kandy.

This would be a joint project between John Keells Hotels PLC and Indra Traders Ltd. The property is expected to be completed by mid-2022 and will be a part of and managed by the Cinnamon brand. The investment signifies confidence in the destination, focusing beyond the current crisis. This venture is also aligned with the Government’s overall vision of generating a revenue of $10 billion by 2025.

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