Colombo Dockyard’s SGIP Shipbuilding Drive Reshapes Maritime Economy
Colombo Dockyard Revolutionizes Maritime Sector
Colombo Dockyard PLC (CDPLC), a prominent player in Sri Lanka’s heavy engineering and shipbuilding industry, is making waves in the regional maritime economy through its Strategic Growth and Innovation Programme (SGIP). With over 50 years of experience, the dockyard is shifting its focus from traditional ship repair to specialized marine infrastructure, particularly in the Maldives. This strategic pivot not only diversifies its revenue but also enhances Sri Lanka’s standing in advanced marine engineering.
Innovative Projects Transforming the Maritime Landscape
Historically recognized for its shipbuilding and repair services, CDPLC is now venturing into the complex realm of underwater structures, a challenging and capital-intensive field that has seen limited activity in South Asia. The SGIP has enabled the dockyard to undertake high-value projects that showcase its engineering prowess. A landmark achievement was the construction of an underwater restaurant for the “You and Me” resort in the Maldives, completed in 2018. This project highlighted CDPLC’s capability to deliver intricate, customized structures while adhering to strict environmental and safety regulations.
Building on this success, CDPLC completed a 50-seat underwater restaurant for the OBLU Resort in Ailafushi in 2022, which was the largest of its kind in the Maldives at that time. The dockyard further solidified its position in the market by delivering two additional underwater structures in 2025, including the “Bubble Underwater Restaurant,” a 12-seater attraction that opened in December 2025. These projects not only cater to the luxury tourism sector but also contribute significantly to the Maldives’ growing portfolio of high-end infrastructure.
Economic Impact and Future Challenges
The expansion into underwater construction has substantial economic implications for Sri Lanka. By focusing on export-oriented engineering projects, CDPLC is generating foreign exchange, creating high-skilled jobs, and reducing the country’s dependence on traditional maritime services. Additionally, these initiatives foster backward linkages across various sectors, including steel fabrication, logistics, design engineering, and marine installation services.
However, the ambitious SGIP-driven expansion does come with challenges. Large-scale projects require significant upfront investment and lengthy timelines, exposing the dockyard to foreign market fluctuations. Delays or cost overruns could jeopardize the financial stability of CDPLC, particularly given its public-sector ownership structure. Despite these risks, the dockyard’s foray into underwater construction represents a broader opportunity for Sri Lanka to ascend the maritime value chain. If managed effectively, the diversification efforts under SGIP could catalyze long-term industrial growth, enhance technological capabilities, and bolster regional competitiveness in the global maritime economy.
