A process is underway for construction of a 3-star hotel at Station Road in the city at cost of Tk 80 crore, he said at a press briefing here on Friday following handover of the maintenance of Foy's Lake to Bangladesh Parjatan Corporation (BPC) by Bangladesh Railway.

He said the 336-acre Foy's lake, the country's lone artificial water reservoir, has been handed over to BPC as a part of a government decision to develop different tourist spots in Chittagong.

The minister said, the government will invite foreign investment for development of the lake. Thai investors have expressed interest to invest, he mentioned.

If suitable foreign investor is not available, BPC will develop all the necessary facilities to turn Foy's Lake into an amusement park and tourist spot of international standard, he said.

BPC chairman Harun Bhuiyan was also present at the press briefing.

Meanwhile, there was allegation that Mohona, a private firm which was given the authority of the lake, was not compensated for its withdrawal.