Crown Limited
(ASX:CWN) says it’s in detailed with the Sri Lankan Government and potential joint venture partners over the development of a five star resort in Colombo, Sri Lanka.
The resort, to be called Crown Sri Lanka, will be a luxury facility with about 450 rooms, retail outlets and a specially designed water feature attraction.
Both the Sri Lankan Government and the board of investment are considering the project.
Crown says if the project is approved, the total cost of the joint venture would be about $400 million.
Crown Chairman James Packer says the resort would help redefine luxury tourism in Sri Lanka.
Crown generated a net profit of $395.8 million in fiscal 2013.
