Sri Lanka's Walkers Colombo Shipyard has fixed a new $4m loan with Asian Development Bank (ABD).
The cash will go on the development of its plant through a new ship-lift and transfer system to accommodate vessels up to 70 metres in length.
It is the first non-sovereign infrastructure loan from ADB in Sri Lanka since 2000.
Jehan Amaratunga, group executive deputy chairman of yard parent MTD Walkers, told the Daily News: “We have driven the diversification strategy of the group over the past few years and this is one of the many initiatives underway that has come to fruition.
