Over 16 billion rupees has been spent on the Colombo Lotus Tower, Transparency International Sri Lanka (TISL) revealed.
According to the TISL, the details of the cost of the controversial project had come to light following information that had been shared by the Telecommunications Regulatory Commission of Sri Lanka (TRCSL).
The TRCSL had provided the information based on a Right to Information (RTI) request that had been filed in this regard.
According to information released by the TRCSL, the total expense of the Lotus Tower covers the period up to 31st December 2021.
Thereby, US$ 113,600,000 has been spent on construction costs, Rs. 337,485,020 on consultancy fees, and Rs. 222,369,357 on loan commitment and management fees.
A total of Rs. 344,215,750 has been spent on other expenses, which includes costs for water and electricity supply.
A cost of Rs. 2,250,000,000 has been incurred as Urban Development Authority (UDA) payment for the land and US$ 8,665,612 as an Insurance fee.
The TRCSL document containing details of the total expenditure of the Colombo Lotus Tower as of 31st December 2021 is as follows: https://www.rtiwatch.lk/requests/?drawer1=TRCSL*LOTUSTOWER