Colombo Dockyard targets US $ 100 m turnover

The Colombo Dockyard PLC (CDPLC) recorded a turnover of Rs. 3.9 billion last year despite a challenging global business environment and it is targeting US $ 100 million in the next ten years, said Managing Director, CDPLC, Mangala Yapa.

He said despite many limitations, Colombo Dockyard has made great strides and has been acclaimed world over for its ship building, repairing and offshore engineering services.

Yapa was speaking at a ceremony on Tuesday to launch the sixth National Business Excellence Awards (NBEA) of the National Chamber of Commerce of Sri Lanka (NCCSL).

“ Winning accolades was not the priority of the company.The achievement at the NBEA has helped Colombo Dockyard to gain more recognition and be competitive in the business”, Yapa said.

The Colombo Dockyard PLC has moved into an export oriented company from its initial focus of being an importer.

The company won the Gold Award at the NBEA 2007.

The NBEA has been recognised as a benchmark of excellence among the business community as an award scheme that evaluates the overall performance of enterprises in the contribution to the economic progress of the country.

The objectives of the award scheme are to recognise and reward enterprises that have contributed to the progress of the economy,created capacity for economic growth and generated employment, built sustainable market competitiveness, adopted best practices and demonstrated capacity to invest.

President NCCSL, Lal de Alwis said a priority of the awards is to recognise and reward the contribution of the small and medium sector enterprises which is the backbone of the economy.

“The contribution of the SMEs to the GDP is around 80 percent though the sector does not receive adequate support to foray in to international markets”, he said.

He said the NCCSL has been short listed for the business excellence awards in Paris.

The Chamber will emerge victorious at the final competition to be held next month.

The NBEA 2009 will be held on November 26 at Hilton Colombo.

(LF)