Press briefing of Cabinet Decision taken on 2011-07-06

Memorandum of Understanding to conduct a feasibility study to develop a large scale integrated Tourism Hub - the Katana City Development

- this project will be located on a state land of 80 ha. in Katana, close to the Katunayake Air Port. The project will comprise of four Five Star Hotels with a total number of 2300 Rooms, Exhibition and Convention Centre, Two Shopping Malls etc. The envisaged foreign direct investment for Phase I is US $1.5 billion and direct employment opportunities will be created to a minimum of 10,000 persons. The proposal made by Hon. Basil Rajapakse, Minister of Economic Development, to enter into a Memorandum of Understand to conduct a feasibility study for the purpose was approved by the Cabinet.