Financial Times
Australian investor sets sight on East coast Cheap ponstel medication
Mr. Mark John Scannell an Australian investor who has come forward to invest in the New Hotel Project initiated by Arugambay Travels Hotels (Pvt) Ltd. called on the Deputy Minister of Tourism Faizar Musthafa in Colombo on Sunday. The BOI approved three star facility is to be built at a cost of Rs.203 million in Arugambay is expected to commence construction next month. At the meeting Mr. Scannell said that with the conflict in Sri Lanka coming to an end there is high potential for the development of Tourism in the country. This is his second visit to Sri Lanka and he is planning to bring in more tourists specially from Australia to Arugambay which is a world famous surfing destination. He also said that arrangements are made to start a travel office in Colombo to promote out bound and in bound tourism from Sri Lanka.
Deputy Minister Faizar Musthafa said that the Government is fully committed to develop the Eastern Province and that all possible assistance will be provided to foreign investors who are coming to Sri Lanka. The Minister requested to set up office in Colombo to promote Tourism as well asA?A? investments specially to develop the Eastern Province of Sri Lanka.
Managing Director Arugambay Travels Hotels (Pvt) Ltd. A.M.Jaufer also participated at the meeting.
source:
http://www.dailymirror.lk/DM_BLOG/Sections/frmNewsDetailView.aspx?ARTID=47810
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…All I can say is good luck because you’re going to need it….
From what I hear he’s lost it already.
If there ever was any substance in this story in the first place.
It’s nothing more than just another media plug by an ambitious Mr. Jauffer and a gullible Dep. Minister. Informed people say.
Arugam is good to invest in – but it’s the choice of partners which counts.
Richard Price
brave man to invest $2 million in aragumbay when it takes 9 hours by substandard road from the airport. There won’t be another airport built for 5 years at least, but I suppose Mr Scamell is not investing his own money just skimming his percentage off the punters. All I can say is good luck because you’re going to need it.
brave man to invest $2 million in aragumbay when it takes 9 hours by substandard road from the airport. There won’t be another airport built for 5 years at least, but I suppose Mr Scamell is not investing his own money just skimming his percentage off the punters. All I can say is good luck because you’re going to need it.
The Colombo Times writes:
Construction work of the first Board of Investment (BoI) approved three-star hotel project in the East is expected to begin next month in Arugambay.
The Rs.203.5 million hotel project will be on a 2.5 acre plot of land consisting of 19 super/semi luxury rooms, 10 cabana suites including a conference hall, swimming pool, restaurants, gymnasium and health club (with ayurveda spa).
Australian surfer Mark John Scannell who is positive about the post war scenario, is the first to invest in a major hotel project in the Eastern coast of Sri Lanka. “Sri Lanka is safe and free for anyone to holiday or invest. Tourists should disregard western negative propaganda and experience what the country has to offer. This is my second visit to Sri Lanka and Arugambay will soon be my second home,” Scannell said.
Commenting on the prevailing world recession, he said it would melt gradually and believes it is the ideal time to invest especially in the tourism sector, as Sri Lanka has more than the stereotyped beach holidays, wildlife safaris…etc.
A.M.Jaufer, Managing Director , Arugambay Travels Hotels Pvt Ltd (the project initiator) has been instrumental in promoting Arugambay as a tourist hot spot over the years.
According to him, infrastructure for the Eastern region has to be in place as promised, if it is to prosper and attract more investments.
“The road to Arugambay has improved and only about 30km needs further upgrading. Arugambay (in the Pottuvil district) is 320km from Colombo and a 4.5 hours journey. Furthermore we are also trying to coordinate with Deccan Air to commence air services to Amapara. If there are flights to Trincomalee and Jaffna, Ampara will not be an issue. Airline operators should do more to promote tourism in the East,” Jaufer explained.
Construction work of the project handled by Hairu Engineering Consultancy Pvt Ltd, is expected to be completed before year 2011.
http://www.thecolombotimes.com/index.php?option=com_content&view=article&id=4656:aussie-investor-gives-positive-signal&catid=2:business-news&Itemid=2
Wonderfull ,where the hotel is gonna set up?
hopefully close to the surfing point ,this will
help developng the place