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Leading News from Sri Lanka ::
Oct 29, Colombo: Facilitating the Sri Lanka State Engineering Corporation (SEC) to penetrate the international market, Majuliya YWC Builders, a Malaysian company, has signed an agreement with the SEC for a joint venture to undertake international building contracts, the government sources said.
In accordance with the terms of the agreement the Malaysian company will facilitate the SEC to engage in large scale construction projects outside the country by providing funding and helping in the development of infrastructure facilities.
Witnessing the signing of the agreement, Construction and Engineering Services Minister Dr. Rajitha Senarathna said, "this was a historic agreement which would facilitate the Mahinda Chinthana vision of introducing construction sector services to the international market."
As long as the Malaysian Company provides the financial aid for international contract bonds on behalf of the SEC, there will be no problems for providing bonds for international contracts, the release said.
The agreement was signed by Acting Chairman of the SEC, Thinsula Liyanage on behalf of the SEC and Managing Director Iyup Lung Henge on behalf of the Malaysian Company. Malaysian High Commissioner Rose Ismail and other Ministry officials were also present.
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