Colombo Dockyard PLC (CDPLC), one of Sri Lanka’s most established heavy engineering and shipbuilding enterprises, is quietly transforming the regional maritime economy through its Strategic Growth and Innovation Programme (SGIP).
With over five decades of experience, the state-linked dockyard has expanded well beyond conventional ship repair and construction, positioning itself as a niche engineering solutions provider with a growing international footprint particularly in the Maldives.
Traditionally known for shipbuilding and repair, CDPLC’s recent focus on specialized marine infrastructure reflects a strategic shift toward higher-value projects. Under SGIP, the dockyard has ventured into underwater structures, a technically demanding and capital-intensive segment rarely attempted in South Asia. This move has not only diversified revenue streams but also strengthened Sri Lanka’s reputation in advanced marine engineering.
A landmark project was completed in 2018 with the construction of an underwater restaurant structure for the “You and Me” resort in the Maldives. This breakthrough demonstrated CDPLC’s ability to deliver complex, customized structures under stringent environmental and safety standards.
The success was followed in 2022 by the completion of a 50-seat underwater restaurant for the OBLU Resort in Ailafushi the largest of its kind in the Maldives at the time.
In 2025, Colombo Dockyard further consolidated its dominance by delivering two additional underwater structures, including galleries and restaurants for high-end Maldivian resorts. Among them was the “Bubble Underwater Restaurant,” a 12-seater attraction opened in December 2025, adding to the Maldives’ growing portfolio of luxury tourism infrastructure.
The economic implications of this expansion are significant. Export-oriented engineering projects generate foreign exchange, sustain high-skilled employment, and reduce Sri Lanka’s reliance on traditional maritime services. Moreover, these projects create backward linkages across steel fabrication, logistics, design engineering, and marine installation services.
However, the SGIP-driven expansion also exposes structural challenges. Large-scale overseas projects demand substantial upfront capital, extended project timelines, and exposure to foreign market volatility. Any delays or cost overruns could strain the dockyard’s financial stability, especially given its public-sector ownership structure.
Despite these risks, CDPLC’s entry into underwater construction highlights a broader industrial opportunity for Sri Lanka: moving up the maritime value chain. If managed prudently, SGIP-led shipbuilding and engineering diversification could serve as a catalyst for long-term industrial growth, technological capability, and regional competitiveness in the global maritime economy.
The post Colombo Dockyard’s SGIP Shipbuilding Drive Reshapes Maritime Economy appeared first on LNW Lanka News Web.
