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Sri Lanka Ceylon Hotels Corp, China Harbhour to build Maldives resort

Feb 06, 2018 16:31 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka-based Ceylon Hotels Corporation Plc said it will build a 50 million dollar resort in the Maldives through a joint venture with a unit of China Harbhour Engineering Company.

Ceylon Hotels Maldives (Pvt) Ltd has formed a 50/50 joint venture with Zhen Hua Engineering Company Ltd (ZHEC), a unit of CHEC, the firm said in a stock exchange filing

Ceylon Hotels Maldives is fully owned by United Hotels Co Ltd, which is 67 percent owned by Ceylon Hotels Corporation.

The joint venture will develop a 50 to a 100 room resort in Ambara Island in Vaavu Atoll in the Maldives.

The firm said Sanjeev Gardner, Lakshman Smarasingh and Priyantha Maddumage wo are directors of Ceylon Hotels Corporation are also directors of Ceylon Hotels Maldives. (Colombo/Feb06/2018)
 


 

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