• Sat. May 18th, 2024

Maga Engineering Takes a Large Chunk of ADB’s Construction Contracts in Sri Lanka

The leading construction comoany, Maga Engineering Pvt. Ltd emerged as the top contractor in Asian Development Bank (ADB) funded projects in the country by securing contracts valued at a staggering $222.24 million over the past four years.

Maga topped the list for Contractors/Suppliers from Sri Lanka Involved in Goods, Works, and Related Services Contracts under ADB Loan and Grant Projects from 1st January in 2016 to 31st December in 2020.

The company has dominated contracts in education and transport projects funded by ADB in the period.

K.D.A. Weerasinghe & Co. Pvt. Ltd was the second closet contractor for ADB-funded projects in Sri Lanka. It secured contrats worth of $46.36 million intransport and water and other urban infrastructure and services in the period.

Sierra Construction Pvt. Ltd was the third-largest contractor for ADB projects in Sri Lanka bagging contracts worth $44.13million in Sri Lanka. It was followed by Nawaloka Construction Co. Pvt. Ltd and CML-MTD Construction Ltd.

The ADB awarded $1.3 billion worth of contracts in the period.

For contractors and suppliers from Sri Lanka, the ADB has awarded 15,560 contracts worth $4.87 billion since 1966.

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