The venture will be via Citrus’ subsidiary Waskaduwa Beach Resort Ltd., which has signed an agreement with the Board of Investment to this effect.
The Waskaduwa resort will comprise a presidential suite, nine deluxe rooms, 140 superior rooms, extensive banquet facilities and a spa inclusive of water sports activities.
Based on the announcement, Citrus Leisure Plc’s stock price improved by 50 cents to close at Rs.29.40 whilst it hit an intra-day high of Rs. 30 with 1.5 million shares traded.
http://www.ft.lk/2012/04/16/citrus-group-to-invest-23-7-m-for-150-room-four-star-in-waskaduwa/