ADB will fund the capital expenditure and expansion plans for the Colombo repair yard with a total project cost of $13.9 million. The borrower will be Walkers Colombo Shipyard, a subsidiary of Walkers Shipyards Limited, a holding company sponsored by MTD Walkers Plc, a well-established company in Sri Lanka with experience in marine engineering business, EPC for industrial and infrastructure projects and property development. The holding company will undertake marine and ship repair business of the Group.
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main