By Shihar Aneez
COLOMBO (Reuters) - South Africa's Sun City resort will invest $800 million in a tourism project in Sri Lanka, the head of the island nation's state-run Tourism Board said on Friday.
Sun City resort is run by South African gaming and hotels group Sun International Ltd.
It will be the largest ever investment in the country's leisure sector, which is booming since the end of a 25-year war in May 2009.
"Sun City of South Africa is now going to make an $800 million investment in a 200-acre private property," Nalaka Godahewa, head of the Tourism Board told Reuters in an interview.
The investment will be made on Sri Lanka's hotel city in Katana, a coastal town located 15 km north of the commercial capital, Colombo, he said.
"That decision is finalized. That is one of the biggest investment."
Elanza Joubert, Sun City Resort's deputy inventory manager at events and entertainment department, said in an e-mail response to Reuters questions that the company would not comment on the plan until the new year.
The government said in July it was expecting at least $1.5 billion in foreign investment in a proposed "tourist city" that includes four five-star hotels, shopping and a convention centre in Katana. ? Continued...
Source: http://feeds.reuters.com/~r/reuters/AFRICAbusinessNews/~3/p816wvcjBXA/idAFJOE7BT02B20111230
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