Nepal billionaire plans to set up UIS $ 75mn cement plant in Jaffna

Nepal's first Forbes billionaire, Binod Chaudhary has submitted a proposal worth of US $ 75 million to the Sri Lankan government to set up a state-of-the-art cement plant in Jaffna Peninsula, a statement issued by Chaudhary's office said.

In Sri Lanka, Chaudhary has an estimated US $ 200 million investments, including projects underway and proposed.

Even before Forbes placed Binod Chaudhary in its 2013 Annual Global Rich List, his love affair with Sri Lanka had begun with a foray into Colombo in the year 2000, when he acquired a substantial stake in the Taj Lanka Hotels, Sri Lanka.

Chaudhary’s company Cinnovation also entered into a joint venture with the Jetwing Group where two of its signature properties, Jetwing Vil Uyana and Jetwing Sea have benefited with substantial investments.