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Tuesday, February 12, 2013

UCLan a Private University to be set up in Mirigama Sri Lanka

Uclan Sri Lanka Private University www.Lankauniversity-news.com
The University of Central Lancashire (UCLan) , a foreign private university is to set up a branch university in Sri Lanka's Gampaha District under Board of Investment (BOI).The construction of the first research based UK University in Sri Lanka is expected to commence. The university will be named as Uclan Sri Lanka.
A 120-acre land at the Mirigama Export Processing Zone has been leased out to establish a branch campus of the University of Central Lancashire (UCLan).
The 99-year-lease agreement with the Board of Investment (BOI) was signed recently after approval was obtained from the Ministry of Higher Education.
The total investment of the project is to be around US$ 100 million (around Rs.12 billion).
The agreement with the BOI had been signed by the university's Sri Lanka partner, UCLan Lanka (Private) Limited.
The agreement permits the Investment Promotion Ministry to grant a 15-year corporate income tax holiday after commercial operations begin and after this period, it will get a concessionary tax rate of 25 per cent for ten years.
Meanwhile, university students unions IUSF have expressed their objections to the move to establish a foreign private university in Sri Lanka.

Related News - Protests
Related News - Tax Holidays 

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