Walkers Colombo receives $4 mln ADB loan for shipyard development

Business

Walkers Colombo Shipyard (Pvt) Ltd, a subsidiary of MTD Walkers PLC, secured a US$4 million loan from the Asian Development Bank to develop the company shipyard.
In a media statement, the company said the shipyard will feature a state of the art Shiplift and Transfer System which will accommodate vessels up to 70 metres in length and 1,250 tonnes.
The proposed loan will be the first ADB non-sovereign infrastructure loan in Sri Lanka since 2000. ADB is filling a critical market gap by funding a project—the first to cater to smaller vessels up to 1,250 tonnes —to serve the shipping industry of Sri Lanka and the region.
Jehan Amaratunga, Group Executive Deputy Chairman of MTD Walkers PLC, said, “We have driven the diversification strategy of the group over the past few years and this is one of the many initiatives underway that has come to fruition. We are keen to invest further in the marine engineering sector and enhance our US$ income streams. We could have no better demonstration of the potential of the project and sector than having the ADB support us. In the long term, interest shown by the Government to make Sri Lanka a maritime hub would only encourage more traffic to the region, more business and higher volumes of repairs.” -ENDS -

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 494 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 461 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 370 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 30, 2025

- 269 - 0

In Pix: Weather situation in Colombo

June 6, 2025

- 208 - 0

SriLankan flight grounded in Indonesia

A SriLankan airlines flight has been grounded in an airport in Indonesia due to a technical defect leaving 93 passengers stranded, an official said.

June 3, 2025

- 208 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.