daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine

Go Back   SkyscraperCity > Asian Forums > Asian Skyscraper Forums > South Asia > Sri Lanka > Construction Projects

Construction Projects Updating construction projects be it proposed, u/c or completed



Reply

 
Thread Tools
Old August 13th, 2014, 06:41 PM   #441
arox
Registered User
 
Join Date: Aug 2014
Posts: 1
Likes (Received): 0

http://sinhala.asianmirror.lk/econom...08-13-00-14-19
arox no está en línea   Reply With Quote

Sponsored Links
 
Old August 19th, 2014, 02:53 AM   #442
saraprobe
Registered User
 
saraprobe's Avatar
 
Join Date: Dec 2006
Location: Sri Lanka 2011/ Melbourne
Posts: 3,321
Likes (Received): 194

Krrish fails to deliver, minister expected to announce decision today

Ceylon FT: The much delayed Indian mixed development project, Krrish Transworks Tower, which is referred to as the 'broken promise' and facing a 'do or die' situation has failed to honour the recent extension granted by the government.
Krrish group, after appointing Ritz Carlton as the management company for the hotel, agreed to pay the balance in full with interest to the Urban Development Authority in July this year.


However, according to Board of Investment sources the company has failed to honour its final payment and was facing a possible 'death sentence'.
Minister of Investment Promotion, Lakshman Yapa Abeywardena, in July said the crucial decision over the Indian mixed development project would be take soon if the company failed to honour the payments.
As per the minister, with interest the Urban Development Authority had to receive more than US$ 800 ( hahah this is an issue across all journalist in SL) million from the Krrish Group for the four acres leased in Colombo Fort.


The minister in a press conference on 3 July told journalist that the decision will be announced at the next scheduled press conference, which will be held today (19 August).
The BOI agreement was signed on 30 August, 2012 and the MoU was signed with the UDA on 30 July, 2012. According to the minister it's a 'do or die' situation for the Indian investor, who has paid nearly Rs 4.4 billion, an estimated 84%, to the Urban Development Authority of the Rs 5 billion lease money due on the Transworks Tower land in Colombo Fort.
The BOI, since May last year, has granted more than five extensions to Krrish group to make the balance payment.
__________________
CHOGM Sri Lanka 2013 www.investsrilanka.com
saraprobe no está en línea   Reply With Quote
Old August 19th, 2014, 05:34 AM   #443
Shakeel
Registered User
 
Join Date: Jan 2008
Posts: 550
Likes (Received): 34

Quote:
Originally Posted by saraprobe View Post
Ceylon FT: The much delayed Indian mixed development project, Krrish Transworks Tower, which is referred to as the 'broken promise' and facing a 'do or die' situation has failed to honour the recent extension granted by the government.
Krrish group, after appointing Ritz Carlton as the management company for the hotel, agreed to pay the balance in full with interest to the Urban Development Authority in July this year.


However, according to Board of Investment sources the company has failed to honour its final payment and was facing a possible 'death sentence'.
Minister of Investment Promotion, Lakshman Yapa Abeywardena, in July said the crucial decision over the Indian mixed development project would be take soon if the company failed to honour the payments.
As per the minister, with interest the Urban Development Authority had to receive more than US$ 800 ( hahah this is an issue across all journalist in SL) million from the Krrish Group for the four acres leased in Colombo Fort.


The minister in a press conference on 3 July told journalist that the decision will be announced at the next scheduled press conference, which will be held today (19 August).
The BOI agreement was signed on 30 August, 2012 and the MoU was signed with the UDA on 30 July, 2012. According to the minister it's a 'do or die' situation for the Indian investor, who has paid nearly Rs 4.4 billion, an estimated 84%, to the Urban Development Authority of the Rs 5 billion lease money due on the Transworks Tower land in Colombo Fort.
The BOI, since May last year, has granted more than five extensions to Krrish group to make the balance payment.
The GOSL been foolish and have not learnt lessons from past Indian developers who have dreams but not established credibility. Hopefully, the UDA gets the right candidate with meaningful projects to benefit all stakeholders.
Shakeel no está en línea   Reply With Quote
Old August 19th, 2014, 10:10 AM   #444
aravindasing
Registered User
 
aravindasing's Avatar
 
Join Date: Jan 2013
Posts: 338
Likes (Received): 154

Quote:
Originally Posted by Shakeel View Post
The GOSL been foolish and have not learnt lessons from past Indian developers who have dreams but not established credibility. Hopefully, the UDA gets the right candidate with meaningful projects to benefit all stakeholders.

I don't think Krrish project will work even if that start how is going to buy this apartments as JKH, Port city and shangri la apartments and office spaces coming up.

We need to look this in different perspective also

on Paper Krrish is Indian number one FDI project we all know china and Japan is in the investment race and sowing their influences.

Japan pre minister coming he already have highways, port and airport development show off.

Most Probably china president kick off Port city project and other project.

If Krrish didn't work out when indian prime ministers modi visits next Jan
he is going to be visiting on a background of tow 2 fail project Krrish and Airtell

If Krrish fail it not good for Indians at all
aravindasing no está en línea   Reply With Quote
Old August 20th, 2014, 05:51 AM   #445
raji j
Registered User
 
Join Date: Jul 2012
Location: Maharagama , Canberra
Posts: 189
Likes (Received): 112

Krrish proceeds

Ceylon FT: The Urban Development Authority and the Board of Investment have changed their minds on the US$ 460 million Indian mixed development project at Colombo Fort after receiving US$ 500,000 during the last two months for the land.


Minister of Investment Promotion Lakshman Yapa Abeywardena, who last month said that if Krrish Group failed to pay the balance in full with interest the project would be cancelled, yesterday told journalists that the UDA had received US$ 500,000 from the investor and the project would go forward.


The US$ 500,000 (approximately Rs 65 million) has increased the total payment for the land to 87% of the Rs 5 billion for the four acres in Colombo Fort Transworks land.
The Krrish Group in April this year, after failing to honour five declines given for the final payment, promised the UDA that the full payment would be completed within three months, which time frame expired on 15 July.


The Board of Investment last month said, Krrish had a balance payment of Rs 639.5 million due on the four acres of land in Colombo Fort, and would have to pay nearly Rs 800 million with interest, to go ahead with the project.
With less than 24 months remaining for the completion of the project, Minister Abeywardena answering a media query as to whether tax concessions would be granted to the much delayed Krrish Project, said that the BOI would negotiate with the company and come into an agreement.


According to the SDP Act or BOI concession plans, projects will be entitled to the said concessions only if they were completed within the given timeframe; in the case of Krrish 48 months from the date of signing the agreement with the BOI.
The BOI agreement was signed on 30 August, 2012 and the MoU was signed with the UDA on 30 July, 2012. The BOI, since May last year, has granted more than six extensions to Krrish Group to make the balance payment.
raji j no está en línea   Reply With Quote
Old August 20th, 2014, 07:51 AM   #446
DhanujaKalhara
Registered User
 
DhanujaKalhara's Avatar
 
Join Date: Nov 2013
Location: Chilaw
Posts: 790
Likes (Received): 138

This krrish is nuts
DhanujaKalhara no está en línea   Reply With Quote
Old August 20th, 2014, 08:55 AM   #447
pawan keta's
Registered User
 
Join Date: Feb 2013
Posts: 78
Likes (Received): 27

The Board of Investment (BOI) has managed to garner US$ 817 million from January up until July this year, which is a 51% growth when compared to 2013.
"With this advancement, we are also working towards reorganizing, rebranding and repositioning the BOI into a more integrated and comprehensive facilitation," Investment Promotions Minister Lakshman Yapa Abeywardena said.
The inflow of Foreign Direct Investments (FDI) during the first quarter of 2014, into Sri Lanka, amounted to US$ 442 million, which was over a 100% increase in comparison to the first quarter of 2013, which was an amount of US$ 219 million.

Meanwhile, the Minister also disclosed that a payment of US $ 10 million was made by Krrish Group of India and an amount of US$ 500,000 was made by Shangri-La to the BOI.

The BOI also launched its new website yesterday, turning it into a more interactive and real-time feature. Translated versions in Chinese, Korean and Hindi have also been introduced. Versions in languages such as Arabic, Russian and Spanish are set to be included in the near future.
The BOI will enhance its processes by forming its fourth functional department; Monitoring, where any issues investors would face, can be handled through this division. Minister Abeywardena said, "Investors will also be issued with Privilege Cards, in settings of Platinum, Gold and Silver, which would depend on their commitments and investments that they would be involved in Sri Lanka, helping them receive the maximum assistance when it comes to investing purposes in Sri Lanka."
Two BOI counters will be opened at the Bandaranaike International Airport and the Mattala Rajapaksa International Airport where potential investors and interested parties can receive more information with regards to the BOI.

This is from dailynews.lk .I think the earlier report could be wrong by looking at the numbers.they have mixed up the kirrish project and shangrila project.by the way guys why would shangrila pay any payments?

Last edited by pawan keta's; August 20th, 2014 at 09:06 AM.
pawan keta's no está en línea   Reply With Quote
Old August 21st, 2014, 12:13 PM   #448
Lak_Diva
Registered User
 
Join Date: Jun 2013
Posts: 105
Likes (Received): 18

Quote:
Originally Posted by raji j View Post
Krrish proceeds

Ceylon FT: The Urban Development Authority and the Board of Investment have changed their minds on the US$ 460 million Indian mixed development project at Colombo Fort after receiving US$ 500,000 during the last two months for the land.


Minister of Investment Promotion Lakshman Yapa Abeywardena, who last month said that if Krrish Group failed to pay the balance in full with interest the project would be cancelled, yesterday told journalists that the UDA had received US$ 500,000 from the investor and the project would go forward.


The US$ 500,000 (approximately Rs 65 million) has increased the total payment for the land to 87% of the Rs 5 billion for the four acres in Colombo Fort Transworks land.
The Krrish Group in April this year, after failing to honour five declines given for the final payment, promised the UDA that the full payment would be completed within three months, which time frame expired on 15 July.


The Board of Investment last month said, Krrish had a balance payment of Rs 639.5 million due on the four acres of land in Colombo Fort, and would have to pay nearly Rs 800 million with interest, to go ahead with the project.
With less than 24 months remaining for the completion of the project, Minister Abeywardena answering a media query as to whether tax concessions would be granted to the much delayed Krrish Project, said that the BOI would negotiate with the company and come into an agreement.


According to the SDP Act or BOI concession plans, projects will be entitled to the said concessions only if they were completed within the given timeframe; in the case of Krrish 48 months from the date of signing the agreement with the BOI.
The BOI agreement was signed on 30 August, 2012 and the MoU was signed with the UDA on 30 July, 2012. The BOI, since May last year, has granted more than six extensions to Krrish Group to make the balance payment.
If the payment itself is this slow, just imagine the pace of construction. We are talking about 4 tall buildings here. It could take more than 7 yrs at this pace.
Lak_Diva no está en línea   Reply With Quote
Old August 25th, 2014, 05:00 PM   #449
DhanujaKalhara
Registered User
 
DhanujaKalhara's Avatar
 
Join Date: Nov 2013
Location: Chilaw
Posts: 790
Likes (Received): 138

http://www.sundaytimes.lk/140824/bus...nt-111549.html
DhanujaKalhara no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT +2. The time now is 08:31 AM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Feedback Buttons provided by Advanced Post Thanks / Like v3.2.5 (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu