CEB land in Maussakale to be leased to UAE investor

The Cabinet of Ministers approved the proposal made by the President in his capacity as the Minister of Investment Promotion to allocate a land adjacent to Maussakale Reservoir and a small island located in the same reservoir, which are currently in the custody of the Ceylon Electricity Board, on a long-term lease basis to Capital Investment LLC of the United Arab Emirates to build and run a hotel complex by investing USD 25 million.