MTD Walkers was the only infrastructure company amongst 10 other blue chip companies selected to make a presentation representing Sri Lanka at the Capital Markets Day at the London Stock Exchange last week.
Addressing the audience, Viraj De Silva, Chief Financial Officer, MTD Walkers said, “Following the end of the three decades-long war, Sri Lanka is in ‘build mode’ with US$7 billion projects in the pipeline for the company in 2011-2015.” These projects, he pointed out according to a press release issued by the company, were all backed by the government and is a reflection of the country’s economic resurgence.
In the construction and piling sector, MTD Walkers is a top-ranked, only listed C-1 grade contractor to undertake projects for highways, bridges, ports and harbours, irrigation and water supply. The company is backed by a multi-national construction company with prior experience in large scale infrastructure development in an emerging economy.
MTD Walkers subsidiary, Northern Power plant is one of two IPPs operating in the North. With parts of the recently liberated North operating with less than 15% in electricity distribution, Northern Power is in the process of expanding its capacity, from 30mw to 50mw through 2021, implying an Internal Return on Revenue (IRR) of 25%.
The statement said the company recently signed a joint venture contract with China Shipbuilding to operate a floating dock at a cost of US$100 million at the new Hambantota port. The company is also a principle sub-contractor to upgrade 200 telecommunication towers in Sri Lanka with a further 800 towers expected to be upgraded in the future.
Mr. de Silva said a JV has been signed with China-listed Anhui to build a 75km highway in the south with an expected revenue of US$250 million. The company is also studying a proposal to construct Sri Lanka’s first toll road (US$850 million Colombo-Kandy expressway) as well as piling related projects to construct low cost housing for 40,000 families. Additionally, a US$200 million worth of water treatment project is under consideration.
Mr. de Silva further stated that with the Government’s fast-tracked infrastructure development programmes including Airports, Ports, Highways, Land Reclamation within the City of Colombo, Water and Sanitation, Railways, as well as tourism related, mixed development and power generation projects encapsulates the growth of the country and the vast opportunities available for MTD Walkers. |
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