News & market updates

Vidullanka PLC commissioned the 6MW Madampe solar plant on 21 February, adding about 9.9 GWh/year and bringing its solar segment to 36MW. The company has nearly 80MW of projects in its pipeline — including a 10MW BESS tender win and wind ventures — potentially raising capacity to ~150MW.

United Tractors & Equipment (Private) Limited was awarded a Rs. 1,424.25 million (ex-VAT) contract to supply 75 motor graders to government development programmes after winning a national competitive bidding process approved by Cabinet on Oct 21, 2025. Five bids were received and the award followed the High-Level Standing Procurement Committee's recommendation.

Prime Group and Melwa Conglomerate acquired a four-acre marina-front parcel in Port City Colombo for USD 57.6 million to develop an ultra-luxury apartment project with estimated turnover of about USD 250 million, slated for completion within four years.

INSEE Cement has recommenced limestone rail shipments from its Aruwakkalu quarry to the Puttalam plant from 18 February 2026 after repairing a 3 km stretch and bridge damaged by the Ditwah Cyclone, following an approximately LKR 1.5 billion restoration investment.

Ceylinco Life laid foundation stones and is funding two 20x20ft classroom buildings at Udayagiriya Vidyalaya (Ampara) and Gallandala Kanishta Vidyalaya (Galle) under its Classroom Development Programme, which has built 89 classrooms to date.

The Wildlife and Nature Protection Society says construction of the proposed Jaffna International Cricket Stadium on Mandaitivu Island by Sri Lanka Cricket has proceeded without required IEE/EIA approvals, with earth-moving machinery and materials on site. WNPS warns the site is environmentally sensitive (mangroves, seagrass, flood-retention) and that works risk increased flood and ecological damage.

Cabinet approved a revised reimbursement framework to expand 4G broadband, reimbursing service providers the lower of Rs.35 million per tower or 75% of actual construction costs to accelerate nationwide telecom tower rollout. To date 83 towers have been built to serve previously underserved areas.

Hatton National Bank (HNB.N0000) has partnered with SENOK Trade Combine to offer tailored leasing solutions for Forton and GWM vehicles and JCB/KOBELCO construction machinery across Sri Lanka.

A parliamentary Ministerial Consultative Committee recommended extending EPF and ETF contributions to private bus drivers and conductors, three‑wheeler drivers and app‑based transport workers. The committee also approved revisions to driving licence fees and validity and will examine and implement sub‑committee reports, with MPs noting transport and road development shortcomings.

Sri Lanka is targeting $4 billion in tourism revenue in 2026 and will launch a Rs.2 billion interim PR and digital campaign in April targeting 12–15 key source markets. The country welcomed 2.36 million tourists in 2025, arrivals were up over 13% year-on-year to Feb 15, and five-star room rates during the ICC T20 rose from about $300 to nearly $500.

WindForce PLC received Letters of Award for twelve standalone BESS projects totalling 120 MW / 480 MWh — Sri Lanka's largest grid-scale standalone BESS programme; eleven projects will be fully owned by WindForce and the Vavunathivu project will be a consortium with Vidullanka PLC.

HNB PLC announced a strategic partnership with SENOK Trade Combine, formalized on 27 January 2026, to offer tailored leasing for Forton vans/pickups, GWM SUVs and JCB/Kobelco construction machinery.

Dongfeng Trucks launched in Sri Lanka on Feb 17 through a partnership with Euro Motors (a subsidiary of Euro Holdings), introducing a range of commercial vehicles for logistics, construction, garments and other sectors. Euro Motors will provide island‑wide service and spare parts support to customers.

AmCham Sri Lanka will convene its CEO Forum 2026 on 25 Feb 2026 in Colombo to drive actionable policy and private-sector coordination for the country’s economic recovery; Hatton National Bank is the Title Partner, signalling private-sector confidence.

St. Anthony’s launched Blackwood, a range of luxury engineered doors for Sri Lanka made in partnership with VK Engineering and available via HOMEMART and authorised distributors. The factory-sized doors use German Sauerland cores and European LVL to improve durability, sizing and reduce on-site rework.

DealBook.lk, a joint venture between Frontier Capital Partners and Asia Capital Global Solutions, has launched as a digital marketplace to connect global capital with Sri Lanka's private-market corporate deals. The platform targets arrangers, investors and founders across infrastructure, energy, agriculture, healthcare and technology.

The Chamber of Lankan Entrepreneurs (COYLE) hosted a five-day G20 Young Entrepreneurs’ Alliance Leadership Assembly in Colombo and handed the G20 YEA Communiqué to Foreign Minister Vijitha Herath. Delegates from nine countries discussed policy recommendations on inclusive growth, digital transformation, startup support and toured Colombo Port City as a potential SEZ.

WindForce PLC received Letters of Award (16 Feb 2026) for twelve standalone BESS projects totalling 120 MW/480 MWh, Sri Lanka's largest grid-scale BESS programme. Eleven projects will be fully owned by WindForce and the Vavunathivu project will be developed in consortium with Vidullanka PLC.

Belluna Lanka and Sanken Overseas will invest about Rs.4 billion (US$12.5m) to develop the 60-key Granbell Hotel Ella in Uva Province. Sanken will co-invest and act as turnkey contractor, with construction from mid-2026 and completion targeted for 2028.

BITUMIX (Private) Limited marked its 25th anniversary, highlighting its role as a leading bitumen supplier and a vertical of Wardena Venture Holdings in Sri Lanka's infrastructure sector. The company noted resilience through price and FX pressures and reaffirmed commitments to sustainable infrastructure and exploring export opportunities.

Pan Asia Bank (PABC.N0000) signed an MOU with Fairway Properties to provide housing loans to buyers of the Fairway Latitude luxury apartment project. The tripartite framework will let buyers access Pan Asia’s home loan facilities with competitive rates; construction has reached six floors.

IMF Managing Director Kristalina Georgieva visited cyclone-hit Mawathura and noted the IMF Executive Board’s December approval of $206 million in Rapid Financing Instrument emergency assistance to Sri Lanka to support immediate reconstruction and balance-of-payments needs. The one-off funding is provided without ex-post conditionality.

Bitumix Ltd marks its 25th anniversary, highlighting its growth into a leading road construction materials supplier and its role as a key vertical of Wardena Venture Holdings while pursuing sustainable infrastructure and export opportunities.

Belluna Lanka and Sanken Overseas have launched Project Granbell Hotel Ella, a planned LKR 4 billion (USD 12.5m) 60-key hotel in Uva Province with construction due to start mid-2026 and completion targeted for 2028. Sanken will co-invest and act as turnkey contractor, with the project positioned to support regional tourism and local employment.

Cabinet approved phase II of the Colombo Urban Regeneration Project with $158 million in AIIB funding to construct 4,074 housing units across six Colombo schemes. Eligible low-income households will pay Rs.350,000 plus a Rs.50,000 maintenance deposit, and the government will cover deed registration and transfer costs.

President Anura Kumara Dissanayake said UK Deputy PM David Lammy's visit reinforces international confidence and welcomed the UK's decision to grant zero-tariff access for Sri Lankan textile exports. He flagged tourism, exports and FDI as priority areas, urged sustained forex inflows and outlined post-Cyclone Ditwah reconstruction measures.

Macktiles launched Macktiles Australia in Victoria, entering the Australian market; the Sri Lankan turnkey tile maker reports production capacity of 44,000 sq m/day and about 40% local market share. It already exports to the US, Saudi Arabia, Nigeria, Kenya, the Maldives and Indonesia and opened its 50th showroom in 2025.

IMF Managing Director Kristalina Georgieva visited cyclone-affected communities including Mawathura and Gampola to inspect landslide and storm damage and reaffirm IMF support for recovery. She urged steps to stimulate economic activity and improve housing and livelihoods, linking recovery to Sri Lanka's reform agenda.

The 2026 amendments to the Colombo Port City Economic Commission Act clarify governance and regulatory frameworks, streamlining CBSL oversight for Port City banking and setting clearer rules for Businesses of Strategic Importance. Two land leases were signed in Jan 2026 for a luxury marina residential and a mixed-use development.

Prime Lands Residencies PLC reported 3Q (ended 31 Dec 2025) revenue up 43% y/y to Rs. 2.80 billion and profit after tax up 144% y/y to Rs. 562.3 million. Gross profit rose to Rs. 1.05 billion and EPS was Rs. 0.60, driven by accelerated construction and first-time revenue from The Seasons Colombo 08.