Sep 11, 2019

Saudi company to be investigated on funding Batticaloa Campus Featured

Steps have been taken to inquire from Saudi Arabia regarding the transactions of the Saudi Arabian company which allegedly lent money to the controversial Batticaloa Campus.

The inquiry teams investigating the transactions stated that the inquiry was being carried out through the Central Bank of Sri Lanka.

It has been revealed that the Batticaloa Campus received Rs. 4.5 billion, of which Rs.3.6 billion was received from the Saudi Arabian Institute.

Moreover, decisions have been made to launch investigations into the land where the Batticaloa Campus is located.

According to the investigation team, the plot of land had been taken over by Batticaloa Campus Pvt. Ltd in 2018 through a long term lease which came into effect from 2013.

Mahaweli Authority of Sri Lanka had cleared the indicated land on behalf of the company named Hira Foundation in 2013. However, extended investigations are expected to proceed regarding this land obtained by the Hira Foundation in 2013 being taken under the Batticaloa Campus later.

Furthermore, it has been revealed that the Batticaloa Campus was registered as an organization in 2016.