Analysing Sri Lanka's Property market, investment options and latest property news in Sri Lanka
Monday, 2 June 2014
No word from Krrish on final payment, says Minister
India’s Krrish Group, despite government’s repeated extensions and reprieves, is still silent on the completion of its due payments to lease the 4.3 acre Transwork Square property in Colombo Fort, 21 months after signing an MOU with the Urban Development Authority (UDA).
Investment Promotion Minister Lakshman Yapa Abeywardene told reporters in Colombo on Thursday that the Krrish group or its local representatives have not made any representations on this matter to him or the BOI and he is awaiting a response from them.Five extensions have been given so far for the final payment of Rs.639.5 million to be made to close the land lease deal, he added. The company has so far paid Rs. 4.3 billion of the Rs. 5 billion upfront lease rental.