Sri Lanka’s Seagulf Shipyard is investing more than $40m to boost its services in 2016.

It will plough in the cash together with a Malaysian partner to build new yards and upgrade existing facilities.

Seagulf managing director Sarath Obeysekera told the Daily News the company has already invested $3m at its existing yard in Modera.

“We offer about 100 employment opportunities and will infuse a further $7m with a Malaysian partner to build ships,” he added.