Ceylon Hotels Corporation Plc (CHC) announced that its group company Ceylon Hotels Maldives (Pvt) Ltd (CHML) has entered into a 50: 50 Joint Venture with Zhen Hua Engineering Company Limited (ZHEC), a Group Company of the China Harbour Engineering Company Limited.
China Harbour is currently the developer of the Port City project, Colombo. CHML is a fully owned subsidiary of United Hotels Co Ltd (UHCL) and CHC owns 67% of UHCL .
In terms of the aforesaid Joint Venture, CHML and ZHEC have agreed to develop an 85-100 room resort on Ambara Island in Vaavu Atoll in the Maldives. The approximate investment will be USD 50 million.
Ceylon Hotels Corporation PLC, through its subsidiaries, operates hotels and rest houses for the living accommodation, refreshment, entertainment, and recreation of tourists in Sri Lanka.
The company was founded in 1967 and is based in Colombo, Sri Lanka. Ceylon Hotels Corporation PLC is as a subsidiary of The Galle Face Hotel Company Ltd.
Sanjeev Gardiner, Lakshman Samarasinghe and Priyantha Maddumage, who are non-independent, Directors of Ceylon Hotels Corporation Plc are also directors of CHML.
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