The Indian Register of Shipping (IRS) has achieved a significant milestone by launching its first defence export project - a floating dry dock being built for the Sri Lanka Navy at Goa Shipyard Limited (GSL). The launch ceremony was held on 19 February 2026 at GSL with Rear Admiral MDK Wijewardana of the Sri Lanka Navy as the chief guest, alongside senior officials from IRS and the shipyard.
Environmental groups in Sri Lanka are urging authorities to suspend construction of the proposed Jaffna International Cricket Stadium and Sports Complex on Mandaitivu Island, citing serious concerns over non-compliance with environmental regulations and potential ecological damage.
Sri Lanka has commenced construction on its largest solar power project, a 150 MW ground-mounted solar energy park located in the Gonnoruwa Division of Hambantota District. This major infrastructure initiative spans 450 acres and represents a US $150 million private-sector-led investment aimed at strengthening the country’s renewable energy capacity while addressing regional power needs.
Sri Lanka has finalized financing arrangements with the World Bank Group to secure US $50 million (equivalent in Special Drawing Rights) to support its Digital Transformation Project, the government has announced.
The Urban Development Authority (UDA) has initiated plans for the “Frolic Island Recreational Hub”, a new leisure and public recreation project along both banks of the Diyawanna Oya in the Battaramulla area.
Sri Lanka’s landmark urban development, Port City Colombo, has reached a major execution milestone as construction officially began on its first residential project. This marks a significant shift from preparatory regulatory work to active delivery of real estate within the Special Economic Zone (SEZ).
The Sri Lankan Cabinet has approved the resumption of the Lower Malwathu Oya multipurpose hydro power project, revealing a staggering 106% increase in costs since its initial approval in 2019.
The Cabinet of Ministers has approved a proposal to allocate 150 million rupees to the e-Court project, a national priority aimed at digitalizing Sri Lanka’s judiciary system to eliminate chronic delays and improve transparency.
Sri Lanka's construction sector continues its strong recovery, posting a 12.2% growth in the third quarter of 2025, according to the Department of Census and Statistics (DCS).
The government has decided to re-initiate the disposal process for a prime land parcel in Kollupitiya (Colombo 3), owned by the Urban Development Authority (UDA), for a mixed development project on a 99-year lease.
