Sri Lanka today signed an agreement with Singapore based Asian Resorts & Casinos, a tourism project developer to build the proposed world class tourism zone in Katana.

Board of Investment says the agreement entails the detailed analysis, feasibility planning and the fast track implementation of the infrastructure and legal arrangements to drive foreign direct investment into the project.

The zone will consist of hotels, attractions, retail, parks and extensive entertainment with suitable operating permits, tax benefits and transport connectivity.

The project will be known as Katana City.

The Katana City Developments (Private) Limited, a firm coming under the Asian Resorts & Casinos Singapore will spearhead the development of the project which will be spread across 200 acre area.

The airport is expected to be connected to the Katana City by a Monorail which will also be built by the developers.

BOI revealed that in due course, the ‘Katana city’ which under the project is named as will have well in excess of US$3bn in construction and investment.

The BOI Chief M M C Ferdinando stated that “Katana City will deliver an exciting tourism offering for high volume arrivals, and the result will be a major step up in job creation”.

He predicts 10,000 jobs to be created out of this venture.

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