ECONOMYNEXT – Sri Lanka’s Maga Engineering Pvt. Ltd. construction group has emerged as the top contractor for Asian Development Bank projects in the island in the last five years.
According to ADB data, Maga Engineering has won work worth US$120 million (Rs18.8 billion) in the transport sector in projects funded by ADB loans and grants during the period up to 31 December 2017.
K.D.A. Weerasinghe & Co. Pvt. Ltd. was ranked second among ADB’s top five contractors and suppliers during this period. This was for work in the transport and water sectors and other urban infrastructure and services with contracts worth $96.21 million (Rs15 billion).
LTL Projects Pvt. Ltd. came next with $86.17 million worth of energy projects.
It was followed by Sierra Construction Pvt. Ltd. with deals worth $77.24 million in transport and water and other urban infrastructure and services and K.D. Ebert & Sons Holdings Pvt. Ltd. with transport sector contracts of $76.30 million.
ADB’s biggest funding has been for transport which accounted for almost 30% of loans, grants, and technical assistance commitments.
(COLOMBO, May 04, 2018)