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Maga Engineering to venture overseas

(Daily News : 14 November 2014)

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Maga Engineering Chairman and Managing Director M. G. Kularatne.   Picture by Mahinda Vithanachchi

Leading constructor Maga Engineering which has undertaken more than Rs 100 billion worth of contracts in the country is now planning to penetrate into oversees projects in the future.

“The company has secured more than 100 huge contracts in the Sri Lankan construction sector with 30 years in the business and is now going global,” Maga Engineering Chairman and Managing Director M. G. Kularatne told a media conference announcing 30 years of their business in the construction sector.

He said that the company during its 30 years of business has reached the pinnacle in the construction industry with a workforce exceeds 14,000 in number includes a highly experienced and talented professionals.

Kularatne said Clearpoint residencies at Rajagiriya, a 47 storied high rise building, the world's tallest residential vertical garden to be NSBM Green University Town-South Asian’s first green university to be and the 47 storied Grand Hyatt Colombo Hotel have impressed many overseas companies too.He said with these developments the company has recorded a 25 percent growth for the last few years to attract local skill to stop brain drain in the country. Therefore, with the penetrating into overseas construction business the local skills professionals will get opportunities work overseas, he said.

Chief Executive Director M. Piyadasa said Maga made its presence in almost all the key areas in the construction industry and has completed over 400 multidisciplinary projects from buildings to roads, bridges, water supply and marine during these 30 years.

He said the last decade marks significant for Maga as it could complete several projects with national importance during this period. Amongst them are the A-9 road,the Jaffna Teaching hospital, the Kalladi Bridge,the A 35 road, Northern Road connectivity are some of the major projects.

http://www.dailynews.lk/?q=business/maga-engineering-venture-overseas

Maga Engineering To Initiate Projects Worth Rs.30bn

(Daily Mirror : 14 November 2014)

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Construction industry leader Maga Engineering (Maga) has projects worth nearly Rs.30 billion to be initiated in the coming months, which could exceed Rs.80 billion before the end of the financial year.“We’ve submitted a proposal to the government to undertake a 28 kilometre stretch of the Northern Highway. It’s worth Rs.54 billion,” Maga Development Director Mega Kularatne said.

According to him, for the financial year 2014/15, the company has so far attracted over Rs.26 billion in contracts.Mega Kularatne said that the company has been growing between 15-20 percent annually for the past decade, while Maga Chairman and Managing Director M.G. Kularatne said immediately past years have seen a growth of 20 to 25 percent.Yet, with the incoming Chinese investments for construction, the industry has only seen an annual growth of 13 to 15 percent.Mega Kularatne said that the industry can contribute towards sustainable growth of the country and escape the middle-income trap.“The industry will have to work on research and development (R&D) and innovation.

It must plan to invest heavily on people and conduct continual professional development to reduce the brain drain,” he said.He also said that while the industry has i mproved i n road construction, energy generation and air/sea port construction are lagging behind.“Ports, airports and power generation need to acquire cuttingedge technology and expertise via joint ventures with foreigners,” he said.Meanwhile, M.G. Kularatne said that the company is attempting to expand, not through diversification into a conglomerate but across borders.“Not going for it (diversification) has helped us grow by investing the profits intelligently into our specialization. Next year, we are going for overseas tenders,” M.G. Kularatne said.The company will be targeting Southeast Asia, the Middle East and Africa.Maga is currently involved in constructing the AmbepussaGalewela and AnuradhapuraTrincomalee roads.It just completed the 47-storey Clearpoint Residencies in Rajagiriya for Rs.6 billion and is constructing the 47-storey Grand Hyatt Colombo Hotel for Rs.10 billion, which when completed would be the tallest building in the country, and the NSBM Green University Town, South Asia’s first green campus for Rs.8.75 billion.

It also completed MAS Thurulie factory in 2008, the world’s first purpose-built carbon-neutral plant.“Through t hese, we are not just contributing to green or corporate social responsibility (CSR) activities but also towards the sustainability of the country,” Mega Kularatne said.The comments were made during the 30th anniversary celebrations of Maga, at Hilton Colombo.The company’s workforce exceeds 14,000 and has been awarded over 78 national construction awards and has also been recognized as the fourth in Sri Lanka’s Corporate Accountability Index.

http://www.dailymirror.lk/56483/maga-engineering-to-initiate-projects-worth-rs-30bn

Maga to construct Rs. 10.3 b worth South Asia’s first-ever ‘Green University Town’

(Daily FT : 20 November 2013)

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National School of Business Management facility in Homagama to help Sri Lanka’s quest to be a knowledge hub

By Shabiya Ali Ahlam As part of an overall effort to make Sri Lanka a knowledge hub and marking a turning point in the country’s education landscape, work on South Asia’s first-ever ‘Green University Town’ was kicked off yesterday. The construction contract for the National School of Business Management (NSBM) Green University Complex in Homagama was ceremoniously handed over to MAGA Engineering Ltd., with Minister of Youth Affairs and Skills Development Dullas Alahapperuma as the Chief Guest. NSBM CEO Dr. E. A. Weerasinghe, NIBM Chairman Prof. Lakshman Jayathilake, MAGA Engineering Chairman/Managing Director M. G. Kularatne, Bank of Ceylon General Manager D.M. Gunasekara, Ministry of Higher Education Secretary Dr. Sunil Jayantha Navarathne and Ministry of Youth Affairs and Skills Development Secretary K. A. Tilakaratne were amongst other Government officials at the event. Conceptualised by NSBM, which is linked to the National Institute of Business Management (NIBM), the green university will cost Rs. 10.3 billion and State giant Bank of Ceylon will finance it. Construction work is expected to start on 18 December 2013 on an auspicious note.

The university The NSBM green university, designed by engineering consultants, will be built in Pitipana, Homagama, on 26 acres of land with a construction cost of Rs. 8.615 billion. Expected to reach completion in 24 months, the facility is expected to house 30,000 local and international undergraduates. The upcoming university will have the faculties of computing, management and engineering and will feature state-of-the-art lecture hall facilities, laboratories, libraries, modern auditoriums and cutting-edge tech labs, offering the highest standards of education. It will also offer hostels, free study areas, cinemas, expansive lounge and walking areas, swimming pools, modern gymnasium, and a business unit. The objective of having such facilities is to offer students a complete education and a live-in facility, bringing the university experience of 21st century to their doorstep.

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Knowledge hub Minister Alahapperuma said the building of the Green University Town brings Sri Lanka a step closer in becoming a knowledge hub in the region. “Sri Lanka is on a fast track to development and the NSBM Green University Town will provide the necessary platform to develop human resource suiting its future. Modern education is about creating global graduates through innovative and experiential learning. This Government is proud to take the helm in delivering this change which would transform the nation into the ‘Wonder of Asia’,” he added. The Minister also said the project would contribute greatly to the national economy since along with the growth of the knowledge base; the foreign direct income earned via international students will also increase. Sharing similar sentiments, NSBM CEO Dr. Weerasinghe affirmed that the Green University Town will help promote Sri Lanka as an educational hub in the region. “Sri Lanka has amply demonstrated the strength of its education system with its highly-skilled and knowledgeable human resource base. However, despite the potency of our system, we have struggled to position ourselves amongst the top educational institutes in the world. NSBM is a proud catalyst in changing the future and the education potential of the nation. We are privileged to work with some of the best talent in the education and construction sphere to deliver this ground breaking project,” expressed Dr. Weerasinghe.

Highly efficient team in place MAGA expressed confidence on the timely completion of the unique building within 24 months with accepted quality as it has a ‘highly efficient team,’ according to its Chairman. Speaking to the Daily FT, Kularatne shared that the company in fact hopes to complete the project ahead of schedule, just as it has done with many other project. Although this is not the first time MAGA is taking over a university project, it is the first time it will construct a green university. Kularatne noted that the idea of the Green University Town is about the performance of the buildings using minimum power. In addition to the maximisation of natural lighting and ventilation which will achieved by having expansive open spaces in the buildings, other ‘green’ characteristics of the project include, green rooftops, rainwater harvesting, solid waste management, and preserving the natural green environment in the complex. While the NSBM project is amongst the top contracts MAGA has successfully bagged in the recent past, in terms of human resource the company will allocate approximately 1,500 persons in total, of which 200 will be staff, and 30 will be chartered engineers

http://www.ft.lk/article/217372/MAGA-to-construct-Rs--10-3-b-worth-South-Asia%E2%80%99s-first-ever-%E2%80%98Green-University-Town%E2%80%99-

Maga Engineering wins Excellence in Engineering award for 2013

(Daily FT : 02 October 2013)

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Maga Engineering Ltd. won the coveted Excellence in Engineering award for 2013 too from the Institution of Engineers Sri Lanka (IESL), for its achievements in the sphere of Infrastructure Construction. Maga received the award, which is the highest recognition for excellence in the construction sector in Sri Lanka, during the IESL Engineering Excellence Awards Ceremony held recently in Colombo.

Maga has won a record of 57 National Construction awards within a span of 20 years, as well as the National Business Excellence Award in the Construction and Engineering sector from the National Chamber of Commerce for the past five consecutive years. The company continued to play a leading role in the infrastructure development in Sri Lanka in 2012/13, executing work on 12 building projects with a total floor area of over 2,900,000 sq. ft., five water supply schemes serving over 310,000 residents and road networks spanning over 643 km, several bridges and a flyover.

“During the year, the company has completed several landmark infrastructure projects such as the A-9 road, Jaffna Teaching Hospital, Kalladi Bridge, A-35 road, Northern Road Connectivity Project, Point Pedro Water Supply Project, Greater Kandy Water Supply Project, Hambantota Port Administrative Complex and ‘Sethsiripaya Stage II’. In doing so, the company has also created employment and supported the livelihood of over 2,100 persons from the local communities of former war-torn areas,” commented Maga Engineering Chairman M.G. Kularatne.

The company’s substantial growth in the water supply sector, was evidenced by Maga being recognised as the Best Contractor in the Water Supply Sector by the NWS & DB, on the way to becoming a key stakeholder in the national goal of providing safe, pipe-borne drinking water to the entire population by 2025. Maga also heightened its focus on large-scale community development projects, including a LKR 100 million contribution to the ‘Api Wenuwen Api’ housing project of the Ministry of Defence for the differently-abled war heroes.

In late 2012, the company carried out landmark environmental educational programs in the Eastern province in collaboration with the Central Environmental Authority. Its pioneering focus on sustainable buildings has manifested through two landmark high-rise building projects viz the 32-storey Fairway Sky Gardens and the 45-storey Clear Point Residencies, which will become the tallest green building in the world. Maga Engineering has the distinction of being the only Platinum rated construction company in the Corporate Accountability Index of Sri Lanka.

http://www.ft.lk/article/196290/Maga-wins-Excellence-in-Engineering-award

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