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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sierra Construction wins deal to build Sri Lankan multimodal transport hub

Sierra Construction wins deal to build Sri Lankan multimodal transport hub

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Trader1


Senior Equity Analytic
Senior Equity Analytic
COLOMBO (EconomyNext) – Sierra Construction (Pvt) Ltd. has won a contract to build Sri Lanka’s first multi-modal transport hub costing 845 million rupees at Makumbura, a town in the southern suburbs of the capital Colombo close to an expressway. 
The transport hub will have a bus terminal, railway station, a bus/car taxi park and connecting roads, government spokesman Health Minister Rajitha Senaratne told a news conference. 

The Makumbura new town development has been recognised by the Urban Development Authority and Transport Ministry as a transportation centre that combines the bus and train services to cater to passenger requirements, he said. 

The Cabinet of ministers this week approved a proposal by Rauf Hakeem, Minister of Urban Development, Water Supply and Drainage, to award the contract to build the multi-purpose  transportation centre in Makumbura, he said.

Sierra Construction was the lowest bidder in the project funded through a soft loan from the Japan International Co-operation Agency. 

The transport hub will also be the central bus stand for the expressway network of the country.

The Makumbura transport hub will be located on 1.6 hectares of land 300 metres from the interchange at Kottawa of the Southern Expressway, the island’s first expressway.


http://economynext.com/Sierra_Construction_wins_deal_to_build_Sri_Lankan_multimodal_transport_hub-3-1830-6.html

Senior Citizen

Senior Citizen
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
So that means this will spur the price of SIRA up further!

Good that they have got the order.
We need to see some action in May / June.
It has been in a very dormant situation with little activity and trading.


Expecting the price to escalate to 5.50 soon.

samcader


Manager - Equity Analytics
Manager - Equity Analytics
Sierra  financials  for  31st  march  may  be  released next  week.
 There  could  also  be  a  final  dividend  declaration by  next  week
The  share  price is  likely  to  improve

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