Q: What was the impact of the economic crisis on the construction industry – and how did the International Construction Consortium (ICC) mitigate the challenges that arose?

A: The construction industry has faced unprecedented crises in the recent past – the pandemic and then the economic crisis. After enjoying 14-15 percent growth year on year for a long period, the industry has experienced contractions since 2020, which directly impacted it.

At ICC, we leveraged our experience in operating during the pandemic to surmount challenges posed by the economic crisis to continue generating revenue. The main pillars of our success are a strong team led by our visionary chairman, our ability to remain agile to adapt to external challenges and thorough strategy planning before embarking on any project, which helps us to assess risks more precisely.

In addition, as one of the foremost companies in the industry, we have ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certification along with the highest grading offered by the Construction Industry Development Authority of Sri Lanka. ICC has also been awarded Gold and Platinum LEED certifications for a number of projects, awarded by the Green Building Council of Sri Lanka. All of this helped to mitigate the challenges.

Q: And what expansion has the company undertaken in recent years?

A: ICC was able to record a strong performance due to the diversified nature of our business model. Our journey commenced with construction, followed by upward integration by foraying into property development and property management later.

Thereafter, the company embarked on a downward integration journey by manufacturing and marketing engineering products and services, including ICC Precast, ICC DURRA, ICC Timber flooring and ICC ACOTEC wall panels to name a few.

Moreover, undeterred by the crisis, we embarked on two property development projects last year. The Residencies in Kotte comprises two towers of 23 storeys and 250 apartments, and is scheduled for completion by 2025.

ICC also commenced the construction of an exclusive upscale 14 villa project in Akuregoda, set to be built with the latest construction technology – namely, PPVC (prefabricated pre-finished volumetric construction), also known as 3D precast, one of the most advanced modular construction technologies.

The PPVC technology allows for an entire module to be prefabricated off-site in a factory under controlled conditions to offer quality, eliminate wastage and ensure faster delivery – an ideal technology for an industry considered to have the lowest productivity and produce the most waste.

As such, PPVC will be a more sustainable method of construction, further localised to suit our environmental conditions in collaboration with the University of Moratuwa. ICC is proud to be the first contractor to use PPVC technology in Sri Lanka.

Q: Could you outline ICC’s global expansion strategy?

A: ICC has been exporting engineering products to the Maldives for many years. Given the recent economic upheaval and industry impact however, the organisation is forging ahead to diversify and expand globally.

Expanding into the region, ICC will commence the export of engineering products to India and Bangladesh in 2023/24, while our global ambition also includes widening the company’s footprint to markets in the Asia-Pacific region. ICC has set up a project division in the Middle East and the Asia-Pacific region to implement its global expansion strategy.

Q: How important is product innovation for your engineering product portfolio?

A: Product innovation has always been our forte. Our latest innovations include PPVC technology, the ICC ACOTEC precast wall panel system, ICC pre-finished timber flooring solutions and ICC DURRA dry wall partitioning, with fire and acoustic solutions.

Q: What are the plans for ICC’s rental management arm?

A: ICC has incorporated vertical integration by setting up a property development arm and subsequently expanded to property management. Presently, we manage our own buildings – both commercial and residential.

In some cases, such as with Oceanfront Condominiums Galle and Nilaveli, we have sold all the units and under our rental management system, we market and manage the properties on behalf of individual homeowners.

ICC is positioned as the only contractor cum developer to build and manage beachfront apartment projects in Galle and Nilaveli. Our aim is to provide end-to-end solutions in construction and property development.

The company has constructed a high-tech office building – Techno Hub – located at a prime address in Malabe, which has been designated by the Urban Development Authority (UDA) as a high-tech IT zone. With the Southern Expressway and proposed LRT (light rail transit) project in close proximity, this latest technology enabled ‘smart’ building is ready for occupation by any industry.

Q: Could you shed light on the company’s future plans?

A: ICC is looking to expand PPVC technology in the construction industry and introduce it to mega housing projects.

Our commitment to environmental sustainability is evident in our ground mounted solar power plant in Mirigama, which generates a megawatt of solar power. Another renewable project will soon be set up in Anuradhapura. ICC aims to run its operations solely on renewable energy by the end of this year.

The company also provides technology for solid waste and wastewater management systems.

ICC will continue to strengthen its reputation as an end-to-end solutions provider and one stop shop in the construction industry.

– Compiled by Yamini Sequeira

CONTACT DETAILS

Telephone – 4400600 | Email – icc@icc-construct.com | Website – www.icc-construct.com