Fri, 19 Aug 2022 Today's Paper

Access Engineering to invest Rs.4-5bn in latest acquisition

4 October 2019 12:08 am - 0     - {{hitsCtrl.values.hits}}

A A A

Access Engineering PLC will invest big money in its latest acquisition, W.U.S. Logistics (Pvt) Ltd., which marked the construction major’s entry into the logistics sector, to set up a world-class logistics facility in Kimbulapitiya, Negombo.


Access Engineering PLC Chairman Sumal Perera yesterday told Mirror Business that the facility will be constructed in two phases and the investment that will go into the first phase would be around Rs.4-5 billion. According to Access Engineering June quarter interim financial accounts, the group had retained earnings of Rs.11.4 billion. 


Access Engineering on Wednesday said it acquired privately-held W.U.S. Logistics for Rs.925 million which owns 41.5 acres in Kimbulapitiya, Negombo.

According to previous media reports, W.U.S. Logistics had entered into an agreement with the Board of Investment in November last year to set up a logistics facility in Negombo, which will include warehousing facilities, cold room facilities, in-house value addition and multi-country consolidation services, auditorium, business communication centre, exhibitions centre, logistic education centre and research and development facility.


The company had committed an investment of Rs.8.9 billion for the project. W.U. Seneviratne & Company (Pvt.), the parent company of W.U.S. Logistics Ltd, is a well-known envelop manufacturer.

 

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Tamil Parties Must Urge Full Implementation of 13A

Last week’s article was about the guerilla war fought by the Janatha Vimukt

Govt. re-recommends COVID-19 regulations: Medics, legal experts warn of vaccine expiry dates and injuries

The public has once again been advised to wear masks to prevent the spread of

8-year-old grave sexual abuse victim gets justice after 18 years

In Palawela Udaniriella, an 8-year-old girl became the victim of Grave Sexual

Covid makes a comeback!

These questions have been buzzing in our heads over the past few weeks as hea