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Pak firm gets huge city contract
A Pakistani company has secured a multi-million rupee development project including a hotel, apartments and two housing complexes in Colombo, officials said yesterday.
A six-acre land in Kompanna Veediya has been allocated to the Pakistani company, Imperial, under a 99-year lease agreement. The company will construct apartments for Railway Department employees and for low-income groups who will be moved out for development projects in Colombo.
The project would enable the Government to secure 400 acres after the Railway workers and the low income groups are resettled in the apartments. The Pakistani company would also build a shopping complex.
Investment Promotion Minister Lakshman Yapa Abeywardena told the Sunday Times the award of the contract to the Pakistani company showed that Sri Lanka did not attract investments only from one or two countries.
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