Shipyard Rehabilitation and Infrastructure Project (ADB-50138-001)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 25, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Walkers Colombo Shipyard (Private) Limited
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 4.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 13.90 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Nov 16, 2017

Disclosed by Bank Aug 25, 2017


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Project Description
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.
Investment Description
  • Asian Development Bank (ADB)
Contact Information
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