Access Engineering PLC, the leading infrastructure developer in Sri Lanka currently sees opportunities in the Asia Pacific and Middle East regions for expansion, according to a top company official.
“In fact we are currently looking at few countries. The expansion will be in the form of j oint ventures with our partner contractors with whom we have long standing relationships,” said Chairman and CEO, Sumal Perera.
The company is trying to leverage on its long standing relationships with foreign principal contractors, and would probably focus on provision of mechanized services such as piling, horizontal drilling etc, said John Keells Stock Brokers (Pvt) Ltd. (JKSB) in a recent report.
“At the beginning of this year, we started a US $ 2.0 - 3.0 million project in Papua New Guinea,” Perera added.
Speaking further on the expansion plans, he said although his company was looking at opportunities outside, it would not be in mega scale. “True that we want to grow outside the home market, but when you look at the mega infrastructure development projects that are being carried out here and the once that are in the pipeline, I foresee quite strong business in the local construction sector for the next 5 to 7 years”. Access Engineering PLC has been working in partnership with China Harbour Engineering Company of China at the International Airport in Mattala. JKSB believes with the recent pledge of further US $ 2.2 billion in loans by China, local infrastructure development projects will create more business for Access Engineering PLC over the next five years, provided the company is preferred over the many large Chinese principal contractors operating in Sri Lanka.