Access Engineering buys 50% of Blue Star Construction for Rs. 800 m

Leading construction group Access Engineering PLC (AEL) has bought a 50% stake in Blue Star Constructions Ltd. for Rs. 800 million to setup a mixed development condominium project in Rajagiriya.

AEL in a stock market disclosure announced that Blue Star Constructions, a BOI enterprise, owns over one acre of property in Buthgamuwa Road, Rajagiriya.

The statement said this investment had synergies with the core business of Access Engineering which would enable the firm to further strengthen its presence in the fast growing and promising property development sector, adding a complimentary segment to its operations.