Sri Lanka’s Access Engineering to build largest warehouse in the country
Sri Lanka’s Access Engineering has reportedly said it is building the largest warehouse in the country for a solid tire company, though construction was hit in early 2020 by the global Covid 19 pandemic.
“On the exports logistics where we currently building the biggest warehouse facility for Camso Loadstar,” Access Engineering, Managing Director, Christopher Joshua has said in an online forum of Sri Lanka’s Echelon Magazine.
Currently five sectors operate under Access Engineering – Engineering, Real Estate, Property Development, Auto Mobile and Export Support Logistics.
“We have already commenced it and we progressed up to about 30 percent of the work and we are supposed to complete it by January 2021,” Joshua has said.
Joshua has further noted that because of the situation in Sri Lanka the construction has slowed and although the delay was out of the company’s control, the firm was keen to complete it.
“If we don’t complete the project, we don’t get the rental income,” he has said.
“This is a 10-year lease rental and its income will be in dollars. Foreign currency which the country is in a desperate need right now.
“We have all the right to delay the constructions but that is not going to help us with the rental.
“That is a challenge because one it is supporting a huge exports business. It will be the biggest interpret trade in the country once it is completed.”
OSL take:
The construction of the largest warehouse in the country by a Sri Lankan company is testament to the strength and growth potential of local businesses. Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment and the many trade agreements as well as trade concessions enjoyed by the country has made Sri Lanka a potential business hub in the South Asian region. Sri Lanka’s on going development agenda would also accelerate the country’s economic growth.
| Article Code : | VBS/AT/20200610/Z_4 |