Sri Lanka’s Sanken to build Rs.3.9bn Renuka Holdings’ Galle Face Icon tower

ECONOMYNEXT- Sri Lanka’s Renuka Holdings Plc said it has entered into a deal to construct its flagship 3.9 billion rupee mixed-development project with Sanken Construction (Pvt) Ltd.

The ‘Galle Face Icon’ project, formerly known as Renuka Tower, will be a 32-storey building with grade A office space, amenities, service suits and recreational areas, operated by Renuka sub-subsidiary Galle Face Properties Limited.

It is located between the Beira Lake and Galle Face Green, with entrance from the Duplication Road and Galle Road.

At least 2 billion rupees of the project financing will be through equity, of which some will be through a foreign investor, according to the firm’s latest annual report.

Renuka Holdings is diversified into processed agriculture, organic plantations, dairy, fast moving consumer goods, property and other industries.