Leading construction group Access Engineering PLC (AEL ) has bought 100% of the issued shares of W U S Logistics (Private) Limited for Rs. 925,000,000/-.

AEL in a stock market disclosure announced that W U S Logistics (Private) Limited owns a land of 41.5 acres situated in Kimbulapitiya to be used for warehousing purposes.

On 21st November 2018, the BOI signed US $60.86 million worth investment agreements with local and foreign investors in apparel, logistics, plant tissue culture and packaging sectors.

The largest investment project was signed with W U S Logistics (Pvt) Ltd., to set up a logistics city, which will include warehousing facilities, cold room facilities, in-house value addition and multi country consolidation services, auditorium, business communication centre, exhibitions centre, logistic education centre and research & development facility.

Aiming to boost private sector investments in multi country consolidation services, the Finance Ministry in mid-October issued a gazette effective from October 1, 2018, allowing privately-held warehouses to clear goods imported in less than a container load of cargo.

The committed investment by W.U.S Logistics (Pvt) Ltd was Rs. 8.9 billion (US $49.8 million).

W.U. Seneviratne & Company (Pvt), the parent company of W.U.S Logistics (Pvt) Ltd is a well-known envelop manufacturer.

Photo - Sumal Perera, Chairman - ACCESS ENGINEERING PLC