Lotus tower generates zero revenue since opening

AN | Published: 12:05 PM Jan 21 2021
Local Lotus tower generates zero revenue since opening

The 'Lotus Tower', which was built with a loan of Rs. 18,800 million from China's Exim Bank has not been able to generate any revenue despite being opened about a year ago on 16 September 2019.

A senior official of the Telecommunications Regulatory Commission stated that they had to pay around Rs. 560 million a year in interest on the loan alone. It is the tallest tower in South Asia and the 19th tallest tower in the world.

The 'Lotus Tower', which also hosts a rotating restaurant, has been blocked to local and foreign tourists due to the Covid-19 pandemic.

He said the tower was planned to be converted into a communications center, however, the renting of the floors had not been successful so far.

When inquired Media Minister Keheliya Rambukwella, stated that the work on the tower, which was scheduled to open in 2016, had been delayed during the last administration. He said that although the then Rajapaksa Government had planned to create a special tourist zone to attract tourists, all these activities had changed after 2015.

However, steps will be taken to make the Lotus Tower and the surrounding area attractive to local and foreign tourists and to generate the expected revenue from the construction of this tower, he added.

AN | Published: 12:05 PM Jan 21 2021

More News