With the view of supporting the expansion of the Sri Lanka’s tourism industry, the Board of Investment (BOI) of Sri Lanka has granted investment approval to Seashells Hotels Limited for refurbishment and upgrading of a hotel and Blue Continent for the establishment of a new resort.

The agreement was signed with Seashells Hotels for a project representing an investment of US $ 3.3 million to refurbish and upgrade the Seashells Hotel located at Kochchikade. With this the number rooms will be increased to 84. Refurbishment operations are expected to be completed by November this year.

Blue Continent signed an agreement to establish a 150 roomed tourist resort at Passikudah, Batticaloa. The venture sponsored by Maldivian investors represents an investment of US $ 6 million. The hotel will be established in a 15 acre land and will commence operations by 2011 December.