Daily Mirror (Sri Lanka)
Krrish agreement will be terminated if deadlines not met: Lakshman Yapa
If the Krrish Transworks Colombo Pvt. Ltd (KTCPL) fails to make the arrears payment of Rs.639.5 million and complete t he constructions within the set deadlines, the government will take action to terminate the agreement, Investments Promotion Minister, Lakshman Yapa Abeywardena said.
Commenting on an inquiry made at a media briefing yesterday concerning the progress of the Krrish mixed development project in Fort, Minister Abeywardena said, “A large number of investors have already expressed interest in the plot of land which is currently leased out to the India’s group. Therefore, we will not have any issues in finding investors for the land even if the proposed project discontinues. However, they have the freedom to make their arrears payments and conclude the constructions within another two years and nine months, according to an arrangement convenient to them, until the set deadline expires. We would however make a decision afterwards.”