Lotus Tower mired in financial controversy

Lotus Tower mired in financial controversy

The Lotus Tower, expected to become a Colombo landmark, is entangled in a web of cost overruns and unexplained financial transactions with the Government committed to repaying a huge debt for the project, according to the information sources. Although the Sri Lankan government had paid an initial deposit of Rs. 2 billion to a Chinese company, there is no record of what happened to that money to date, Government sources told Daily News yesterday. President Maithripala Sirisena himself alluded to this controversy when he ceremonially commissioned the Lotus Tower yesterday.