New luxury hotel at Veyangoda by coco-based products SL firm
View(s):Like many new Sri Lankan companies, Coco Agro Pvt Ltd is venturing into the leisure sector through Coco Agro Hotels (Pvt) Ltd, and building a 4 to 5 star class hotel and conference centre at Veyangoda which would be ready next year.
“This new facility will contain luxurious accommodation on par with 4 to 5 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 is US $2.6 million,” said the Board of Investment (BOI) after the company signed an agreement with the BOI last week.
Kapila Nishantha Abeysekera, Managing Director – Coco Agro Hotels, is also Managing Director of Coco Agro (Pvt) Ltd which, according to the company website, is a leading manufacturer and exporter of coco peat, coco chips, coco pots and other coir-based products in the island.
The company, established in 1996, says it uses coconut husk of a high standard gathered from its own plantations which has the highest yield in the region.
On Coco’s luxury hotel, the BOI said construction will commence immediately and will run at accelerated phase, completed and be operational by next year.
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