MTD Walkers in high-gear to execute on large order book

Tuesday, 26 June 2018 00:00 - - {{hitsCtrl.values.hits}}

The management of MTD Walkers PLC reports that it has begun gearing-up its operations to deliver on a strong order book of large scale, long-term infrastructure projects in several sectors.

MTD Walkers, recognised for its strength in engineering and infrastructure development, has commenced work on the Central Expressway, one of the country’s largest road projects, and has further been awarded four ADB-funded Integrated Road projects in the Uva Province.

These projects will anchor the order book of the Group’s road construction sub-sector over the coming three years, which will improve the cashflow of the Group. The company is also making progress on one of the largest irrigation and water projects in Sri Lanka, namely, the first phase of the Upper Elahera Canal project, which is a project of the Mahaweli Development and Environment Ministry funded by the ADB, to enhance the supply of water in the surrounding districts. It is anticipated that this project will directly contribute towards improving agricultural production and its sustained economic growth in the surrounding districts.

The real estate portfolio of MTD Walkers is also showing positive growth, having recently launched 1,080 new apartments in two major developments, strategically positioned to meet the ongoing middle-income housing shortage. These projects are expected to contribute positively towards increasing Group revenue through the large demand for housing by the middle-income sector, and also through the Group’s ability to perform both the roles of development and construction.

The Group’s strategic decision to invest in the Marine engineering sector will see the commissioning of a new Shipyard in Mutwal in the coming months. The shipyard will allow the Group to benefit from the country’s emerging status as a major maritime hub in the greater Indian Ocean region, and is expected to be a future driver of the Group’s profitability and revenue diversification plan.

MTD Walkers has geared itself to successfully execute on its large order book of large scale infrastructure projects and expects this to be reflected positively in the Group’s bottom line during the coming financial year, despite the prevailing tough times.