Edward and Christie expands into maritime sector with Dolphin Marine acquisition

Thursday, 3 April 2025 04:55 - - {{hitsCtrl.values.hits}}

Signifies expansion with keel laying for steel ferries

Leading infrastructure development company, Edward and Christie Ltd., has acquired a 60% stake in Dolphin Marine Lanka Ltd., marking its strategic expansion into Sri Lanka’s fast developing shipbuilding and repair industry. This move aligns with Edward and Christie’s vision of diversifying beyond its core construction business to support the country’s industrial growth.

Signifying the expansion, Dolphin Marine Lanka and Edward and Christie celebrated the keel laying ceremony for two steel ferries commissioned by the Road Development Authority (RDA). The event, attended by RDA officials and key stakeholders, symbolised the start of construction for ferries serving the Kurinchakarney Lagoon and the Kurikadduwan-Nainatheivu route, enhancing transportation efficiency, safety, and connectivity, benefiting local communities and travellers.

Edward and Christie considers this acquisition as part of a long-term strategy to integrate SMEs and strengthen the maritime sector. Edward and Christie, and now Dolphin Marine Lanka Chairman Cristy Arawwala stated, “Recognising the significance of evolving global markets, we remain committed to expanding into high-potential sectors. This acquisition is one such major step in our strategic journey.” He added, “This project further reflects our commitment to delivering high-quality infrastructure that enhances lives and regional connectivity.”

Specialising in marine engineering, ship repairs, heavy engineering, and fabrication, Dolphin Marine Lanka has played a key role in shipbuilding projects. Managing Director Amarasiri Withanawasam emphasised the importance of regional market expansion and securing capital for innovation. “This investment meets our capital needs, and we sincerely appreciate Edward and Christie’s long-term commitment,” he said, in addition to acknowledging Confluence Capital for its role in structuring the transaction.

Confluence Capital CEO Ranga Perera highlighted the untapped potential of Sri Lanka’s SME sector, reiterating that strategic consolidation is crucial for market expansion. “This transaction sets a benchmark for SME growth by providing essential capital and expertise,” he added.

With its prime location along major Indian Ocean shipping routes, Sri Lanka boasts a strong shipbuilding and repair industry. The country’s natural harbours, skilled workforce, and competitive labour costs make it an attractive maritime hub. The acquisition aims to leverage these advantages by integrating Dolphin Marine’s expertise with Edward and Christie’s infrastructure capabilities, and enhancing services in shipbuilding and repair, catering to the fisheries, tourism, defence, and oil industries — key sectors driving global demand.

Dolphin Marine Lanka MD Amarasiri stated, “We are honoured to build these vessels, which will improve mobility and strengthen transportation links in key regions.”

Once completed, the ferries will feature modern safety and comfort enhancements, aligning with the RDA’s mission to improve national transportation infrastructure.

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