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Sri Lanka's MTD Walkers to expand shipyards, eyes Maldives

Aug 22, 2017 12:51 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka's MTD Walkers, a publicly traded construction and engineering group, said it is eyeing a third shipyard in Galle, and opportunities in the Maldives as expected to win more business in the Indian Ocean.

The firm said it had invested 1.3 billion rupees building a shipyard in Mutwal, near Colombo Port, which can accommodate vessels of up to 1,250 tonnes. It will have a shiplift and transfer system, which is being built by a group company.

The yard has already built a barge to carry out sea-piling, and two tugboats for its own use are also being built.

"Further to this, the sector will evaluate emerging opportunities in the Galle Harbour and Maldives," the firm told shareholders. "The sector’s strategy is to establish shipyards across the island to cater to growing demand for quality ship repair and shipbuilding services in the Indian Ocean."

The Mutwal shipyard is expected to start commercial operations in the next financial year. Already, offshore ship repairs are being done, the firm said.

The Trincomallee yard in Cod Bay Fishery harbour will have a boatlift and cater to smaller fishing vessels.

MTD Walkers group is already engaged in civil engineering work in the Maldives. (Colombo/Aug21/2017)
 


 

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