It is anticipated the project will later be converted to a listed entity on Colombo Stock Exchange under a possible Maithripala Sirisena Government to raise funds from Sri Lankan public tax payers where as Norway Investors will exit from the company at a premium capital gain via selling shares.
Further Navin Dissanayake's father Gamini Dissanayake in Sri Lankan history once reached the top 10 richest people list in Asia after UNP Government completed Mahaweli power project by giving the contracts to Sri Lanka's Kelly Maharaja's Maharaja group that never had even a construction company those days except for Harrison Brush imports and Z-Lon pipes during 1978 UNP Government Era.
Read the following project list from Maharaja (Sirasa/MTV/Shakthi Broadcasting group) Projects group that earned the best ever commissions to Gamini Dissanayake and Maharaja group to become rich under J.R. Jayawardena 1978 UNP government onwards.
MAJOR PROJECTS NEGOTIATED AND OBTAINED FOR INTERNATIONALLY KNOWN COMPANIES
1. Design and construction of the Victoria Dam and Tunnel with M/s Balfour Beatty and Edmund Nuttal of UK at a cost in excess of Stg. Pds. 150 million.
2. Down Stream Canal Building with Vianini of Italy at a cost exceeding US$ 70 million.
3. Ancillary work on Mahaweli with M/s Whessoe Boving Joint Venture on electrical and engineering work exceeding US$ 60million.
Further read below all the projects that Maharaja group has earned commissions from former governments.
4. M/s W S Atkins partnership of UK were appointed consultants to the Ministry of Housing, Construction and Local Government and to the Ministry of Highways who have obtained several contracts and consultancy fees to the value of over US$ 6 million.
5. M/s Foster Wheeler Energy Ltd of UK whom we represented, obtained contracts with the Government to train Civil Engineers and Technicians in Sri Lanka under a financing programme by the World Bank to the value of approximately US$ 50million.
6. We were instrumental in bringing about a joint venture between M/s Blue Circle of UK and the Sri Lanka Cement Corporation, the Lanka Cement Corporation, and also Lanka Cement Industries where Government owned cement plants are being managed by Blue Circle Industries on a fee profit basis.
7. M/s Ayala (Abbot & Butters) of UK whom we represented successfully completed the entire interior works for the Ramada Renaissance Hotel (now known as Trans Asia Hotel) in Colombo, at a cost of around US$ 9 million. This included a finance package lead by Scan Bank, London.
8. Negotiated on behalf of M/s Balfour Beatty of UK a joint venture to undertake major road projects in the City of Colombo together with Government owned State Engineering Corporation. Under this contract all city roads in and around Colombo were obtained on a cost plus basis
9. Negotiated a Stg. Pds. 300 million contract to set up a 2x60 MW Hydro Power Project in the South West part of Sri Lanka, namely the "Samanalawewa" Project. This major development project was awarded to Balfour Beatty/Kumagai Gumi joint venture with funding of UK and Japan by negotiation with Sri Lanka Government on an unsolicited basis.
10. Acted as the agent to obtain the Rantembe Hydro Power project award to M/s Hoctief of West Germany for the Dam and Tunnel and to M/s D S Dillinger Stahlbau GMBH for the Hydro Mechanical Works. Approximate value of the project - US$ 75 million.
11. We successfully negotiated and supplied power to the Grid, through our associate company - Euro Asia (Pvt) Ltd., 40 MW Emergency power supply (using equipment supplied by M/s Alstom Power Rentals USA) and are currently negotiating the supply of additional 50 MW of Medium Term power.
12. Obtained contract for the Dredging element (US$ 25 Million) of the Colombo Katunayake Expressway project for M/s Boskalis International b.v. which was the landfill and earth works element of the project.
13. Signed a Power Purchase Agreement in 2007 for 20 MW of Diesel Power in Jaffna Peninsula for 10 years through an associate company – M/s Bounty Power Ltd.
14. Acted as Agents for General Motors USA - Electro-Motive Diesel Inc for the supply of Locomotives to Sri Lanka Railways.
15. Obtained Licence for 100 sq. km. Of sea to perform sea sand mining for the local construction industry. Expected to mind 5 million cubic meters per annum. Environmental Impact Assessment being carried out on 2 locations in the West Coast.
16. Developing a greenfield Petroleum Refinery for export of 300,000 bpsd at a cost of US$ 4.0 Billion (including a Coker and Power Plant using residual Pet Coke).
17. In collaboration with M/s Aker Kvaerner Norway planning to enter the Oil and Gas Exploration and development phase as service providers.
18. Developing a Renewable Energy portfolio with foreign collaboration in the Bio Mass/Wind/Solar sectors.
In total The Maharaja Organisation (Projects) Ltd have a portfolio of over US$ 4.0 billion worth of contracts for our principals and ourselves within Sri Lanka with Government support which is a very significant part of Sri Lanka's development programme in the last few years.
This gives a clear insight why Navin Dissanayake, UNP and all the other members of UNP government is crying so much about Chinese Loans coming into Sri lanka and Chinese Contracts being undertaken in Sri Lanka...simply because neither Maharaja group or UNP government and their stooges can't make money like before.
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