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Monday, January 02, 2012 - 8.37 GMT

Sun City to invest US$ 800 million in tourism project


South Africa's Sun City resort will invest US$ 800 million in a tourism project to build a hotel complex in Katana.

According to the Chairman of the Tourism Board Nalaka Godahewa Sun City resort will make the investment in a 200-acre private property.

"Sun City of South Africa is now going to make an $800 million investment in a 200-acre private property," Nalaka Godahewa, has told Reuters in an interview.

The investment, to be made on Sri Lanka's hotel city in Katana will be the largest ever investment in the country's leisure sector.

"That decision is finalized. That is one of the biggest investments," Godahewa has said.

According to the report, the government was expecting at least $1.5 billion in foreign investment in a proposed "tourist city" that includes four five-star hotels, shopping and a convention center in Katana.

The government has launched an ambitious five-year plan to attract US$ 3 billion in Foreign Direct Investment and double the hotel room capacity to accommodate a target of 2.5 million arrivals.







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Last modified: January 02, 2012.

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