BOI responds to News1st expose on proposed “tallest building in South Asia”

BOI responds to News1st expose on proposed “tallest building in South Asia”

Written by Keshala Dias

05 Jul, 2017 | 9:30 pm

News1st, on Tuesday, exposed that the BOI signed a Memorandum of Understanding worth USD 2 billion, for a project to build the “tallest building in South Asia.”

The Board of Investment, on Wednesday, responded to our expose.

When looking further into the details pertaining to the company that is carrying out the investment, it is observed that a considerable number of persons on its Board are of Sri Lankan origin.

A number of comments were made claiming that there is no land selected for the project, as well as on the flow of investments.

The Daily Mirror newspaper reported that the BOI signed a Memorandum of Understanding worth USD 2 billion for the project.

Speaking to News1st, a Director of the AL Aman Group Dr. Senaka Silva said the project is only USD 1.2 billion.

However, the document shown to us by the Chairman of the Board of Investment says the project is USD 2.4 billion. Although the investment is in the billions, the agreement signed for foreign investment is only USD 200 million.

The Chairman confirmed to News1st that the BOI plans to bring the remaining funds in foreign investments, and that agreements are being drafted.

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