CIOB highlights new opportunities in construction industry

Ministry of Water Supply Secretary Dr. Priyathbandu Wickrama

CIOB President Dr. Rohan Karunaratne

The Ceylon Institute of Builders, a premier construction institution and service provider in the construction industry, organised an awareness seminar for decision makers, professionals and other industry stakeholders on the new opportunities available with the new Government. 

The seminar titled ‘New Opportunities in the Sri Lankan Construction Industry’ was held on 25 August at the Taj Samudra.  

Ministry of Water Supply Secretary Dr. Priyathbandu Wickrama, Urban Development Authority Dy. General Manager – Consultancy Ananda Samarasinghe, Board of Investment Director – Infrastructure and IT Ranjan Sibera, CIOB President Dr. Rohan Karunaratne and CIOB Secretary Eng. Saliya Kaluarachi joined as presenters of the program.

In the keynote speech, Dr. Wickrama stated that the Government would act as a catalyst to support the construction industry and would make the payments due to the construction companies through the proposed interim budget.

He further stated that there were plans to develop four main cities i.e. Hambantota, Trincomalee, Jaffna and Colombo, with nine economic corridors. A port and an airport will also be developed in these main cities. He also said that the Government would use the overseas construction companies for foreign investments and offer sub contracts to local companies in mega projects. Local construction companies will be the builders for local investments.  

Dr. Priyathbandu Wickrama informed the participants that the Government expects to spend about Rs. 790 b on various water projects developments in the next few years. He said that they needed skilled construction contractors. The Government believes that there are many opportunities available for the construction industry in a framework made under a national policy.

Sibera stated that the Government has decided construction as a main industry to achieve its goals and has called for international players to undertake international projects. The BOI hopes to contribute 5% to the GDP through the construction industry. The Strategic Development Act can be used to streamline the approval process and the UDA has been instructed to release lands swiftly.

The building with five towers for the Colombo International Monetary Centre in the Port City has already been planned with an investment of $ 1 b. This has been approved by the Cabinet of Ministers and the BOI in the gazette issued last month.

Dr. Karunaratne stated that he wished to support the CIOB membership and the industry in particular with the new opportunities available for them under the new development plans in Sri Lanka. He said that the industry had been badly affected during the last few years, adding that with the mandate given by the majority of people, the country had acquired a strong leadership. He said that they were hopeful for the industry to reach its golden era once again. 

To achieve the expected development and financial stability, CIOB intends supporting the industry stakeholders by disseminating information through seminars and forums from time to time.

CIOB members representing all major and specialist construction companies and branded suppliers, professionals, academics and other interested parties from the industry participated at this successful seminar.

A section of the audience