Business
USD 40 million five star resort to be powered entirely by renewable energy
By Ifham Nizam
In a bold step to transform the tourism landscape of Sri Lanka’s Sabaragamuwa Province, a groundbreaking USD 40 million ecotourism project is set to take shape in the serene town of Uda Thimbiriya, Bulathkohupitiya. The “Thimbiriya Skyline Resorts,” a luxury 100-room, five-star resort, will be built on sustainable principles, powered entirely by renewable energy and achieving net-zero carbon emissions.
At the helm of this ambitious venture are two visionaries: Mrs. Elisabeth Berg Khan, an economist with a passion for green innovation, and Dr. Sikander Khan, a renowned professor and CEO of Peak Education Ltd., based in Stockholm, Sweden. Partnering with them was Hewage Upananda Karunaratne, the head of UDS Agro Holdings. ‘Together, they formed an alliance built on mutual respect and a shared dream: to create an eco-tourism marvel that would redefine hospitality, knowledgeable sources said.
The resort will be a pioneer in green tourism, integrating 1 MW agrivoltaic solar energy systems to support its operations, ensuring a fossil fuel-free environment. The project, which is a collaborative effort between international and local experts, boasts an ambitious design that includes energy-producing facades, building-integrated photovoltaics, and passive house components, such as enhanced insulation and energy-efficient windows.
At the forefront of this initiative is Major General Nimal Krishnaratne (Rtd), the Project Coordinator. With extensive experience in leadership and coordination, Major General told The Island Financial Review that the resort will not only attract international tourists but also foster significant local employment and skill development.
“This ecotourism project is more than just a hotel; it is an opportunity to uplift the entire community. With around 120 direct job opportunities and the training of local youth in marketable skills, we are helping to raise the standard of living in the area, he said.
The USD 40 million investment, with 99% of the funding sourced from foreign direct investment (FDI), will also have far-reaching social benefits. A portion of the proceeds will be allocated to community initiatives, such as healthcare, housing, and environmental development, particularly focusing on flora and fauna protection. Additionally, the project aligns with several of the United Nations’ Sustainable Development Goals (SDGs), underlining its commitment to sustainability and inclusive growth.
The resort’s location on eight acres of land, with five acres dedicated to hotel facilities and three acres for the solar farm, further emphasizes its focus on green infrastructure.
According to Major General Krishnaratne, this project is a perfect example of how tourism can be developed sustainably, creating a model for future projects across the region. “Once operational, this resort will not only be the first five-star hotel in the Sabaragamuwa Province but will also set a global standard for ecotourism, he remarked.
Already approved by the Sri Lanka Tourism Development Authority (SLTDA) with preliminary clearance, the Thimbiriya Skyline Resorts project will be a milestone for both the local economy and Sri Lanka’s tourism sector. The resort will help bring international attention to the area, boosting tourism and supporting the country’s broader goal of becoming a global ecotourism destination.
Major General added: “This project represents a unique synergy between sustainable development and tourism, one that we believe will create lasting positive impacts for generations to come.”
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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