Home / / Colombo-Katunayake Highway construction to get underway

Colombo-Katunayake Highway construction to get underway


Comments / 3731 Views / Saturday, 1 January 2011 00:39


CML-MTD Construction LTD wins subcontract

In keeping with the Government’s acceleration to facilitate world class road networks across the country, CML-MTD Construction Limited has been awarded the subcontract to build the much anticipated Colombo- Katunayake expressway.



As one of the top-rated general contractors in the country specialising in rail and road bridges, road reconstruction and construction of marine revetments and structures and in earth moving, the company will undertake subcontract work for the construction of the 26 kilometre roadway, which is expected to be completed by end 2012.

Dian Jayasuriya, Managing Director of CML Construction, said: “We are committed to the Government’s vision of developing world-class highways in Sri Lanka. Our expertise in quality, which is evident in the many islandwide projects that we have successfully completed, is a testament of our strength as one of the best in the business.”

The company has received the highest C1 grading in three construction sectors, namely highways, bridges, dredging and reclamation.  The company also has received ISO-9001:2000 quality standard certification for earth moving and land grading, roads, road bridges, railway bridges, industrial parks, irrigation systems, storm water drainage, port construction and building of revetments, sheet piling, concrete pile driving, pre-cast concrete products, industrial mining, quarrying and crushing since 11 February 2000.

MTD Walkers Plc is Sri Lanka’s only listed, full-fledged engineering and infrastructure development company, carrying out a comprehensive restructuring to consolidate its group investments. As a part of this restructuring, MTD Walkers announced a Rights Issue of up to 108.6 million shares (in the proportion of 19 new ordinary shares for each existing share) at Rs. 33 per share. The new shares are on offer to MTD Walker’s shareholders for subscription till 3 January 2011.

The rights issue will capitalise the liabilities of the company resulting from the acquisition of 100% of Northern Power Company Private Limited, a 30 MW HFO power plant located in Chunnakam, Jaffna as the largest provider of electricity to the Jaffna peninsula, CML MTD Construction Ltd. and other companies.

The balance of the Rights Issue proceeds will be used for capital expenditure and working capital requirements of the MTD Group of Companies.


Share This Article


COMMENTS

Today's Columnists

Brilliant companies are brilliant at the basics

6 December 2016

Top research company AC Nielsen last week announced that the Consumer Confidence Index (CCI) had picked up from a downward trend. But challenges to the consumer remain given that the economy grew by a modest 2.6% in the backdrop of the drought and...


Taxation in Sri Lanka: The need for radical change?

6 December 2016

A country’s fiscal and taxation system is a major determinant of macro-economic policy and sustainable growth, particularly in areas such as government revenue, public debt, fiscal deficit, inflation as well as resource allocation, income di...


Thriving in a digital age: Digital currencies pose the biggest threat to banks – Part III

5 December 2016

  This is the final part of a revised and improved version of a paper published in the Association for Professional Bankers 2016 Annual Convention Publication titled ‘Thriving in a Digital World’.  Part I of this paper...


Men and women for SEN: Reaping research richness

5 December 2016

The research monograph is handed over to the Secretary of the Ministry of Education    It was a delight to witness a research landmark made through a comprehensive study of special education needs (SEN) of primar...


Columnists More