SLTDA secures US $ 417.5mn foreign investment to develop Uchchamunai island, Kalpitiya

The coastal town of Kalpitiya will receive a fresh boost with the Sri Lanka Tourism Development Authority (SLTDA) having sealed an agreement with a foreign investor to develop the Uchchamunai island.

The SLTDA shared that it has entered into a lease agreement with an investor for a US $ 417.5 million project. The lease agreement was inked on May 11 with the representative of the investor having arrived in the country to finalise the project.

While refraining from sharing the details of the project and investor, the SLTDA in a notice shared that the approval process reached completion in late 2020.

However, the inking of the agreement was delayed due to a request made by the investor, the SLTDA said.

The authority affirmed that proper procedure was followed and the necessary approvals to lease out the property were obtained by the relevant line agencies. Accordingly, the plot in the Uchchamunai island has been leased out for 30 years as per the land alienation policy, the SLTDA said.

As posts have been circulating on social media stating that the said land in Kalpitiya has been sold instead of being leased out, the SLTDA placed on record that such posts are incorrect and untrue. The SLTDA said the misinformation campaigns are being carried out to mislead the public and advised stakeholders to be cautious of such efforts.