Cabinet nod to award Rs. 1.3 b Waters Edge construction to Sathuta Builders

Cabinet this week granted approval to award tender to construct a 48-room hotel for Waters Edge Company to Sathuta BuildersLtd. for Rs. 1.3 billion. The proposal was made by Megapolis and Western Province Development Minister Patali Champika Ranawaka, to award the construction of the small luxury hotel at Battaramulla Waters Edge Hotel premises.

Headed by R. M. Sunil Rathnayake as Chairman and Managing Director, Sathuta Builders Ltd. was the one of the first construction firms in the country to obtain the CIDA gradings of C3, C2, C1 and the prestigious CS2 for Building Construction.

Cabinet also gave approval to another proposal made by the Minister, to develop the land in Peliyagoda, which has been earmarked for a housing project designed for low income people under the Urban Regeneration Program launched by the Ministry.

The Cabinet proposal to award construction work to erect a Gabion Wall and prepare the proposed land to build 600 housing units to Land Reclamation and Development Corporation at a cost of Rs. 217.34 million.

The project aims to build 40,000 housing units for urban poor communities where 8,380 units have already been completed under 16 projects launched in phase I.