Financial Times

Aitken Spence to go global, eyes new Colombo port project
The blue chip Aitken Spence conglomerate has declared its interest in Colombo port terminal operations as part of an ambitious expansion both locally and globally.

“We are interested in expanding the scale of our activity to include port operations,” Aitken Spence managing director Rajan Britto said in the company’s annual report to shareholders. “Hence, we will be interested to participate in the development of the Colombo South Harbour when expressions of interest are called for.“ The Harry Jayawardena controlled company was earlier known to be interested in acquiring the Jaya Container Terminal of Colombo port when the government was considering privatizing or ‘corporatising’ it. Britto also said the firm is expanding its fleet of cargo vessels and hopes to expand in south Asia with bases in Bangladesh and India.
He said the company has looked at hotel projects in India and even Libya under plans to go global.

“Our focus is on delivering medium to long term shareholder value and will not be swayed by short term tactics that would merely make us a show-piece in the stock market,” Britto said.Jayawardena said the company wants to expand nationally and internationally.

“In our tourism business we thought we were somewhat well diversified by destination in having hotel properties in Sri Lanka and the Maldives.”
However, the tsunami struck both countries. Hence we have to think globally and we plan to go global with some of our multinational partners.”

Back to Business