Dialog to invest US$174mn more in Sri Lanka
ECONOMYNEXT – Sri Lankan mobile phone operator Dialog Axiata said it plans to invest 174 million US dollars (24.6 billion rupees) to upgrade its local and international broadband networks and fibre optic and digital satellite services.
A stock exchange filing said Dialog had signed an agreement with the Board of Investment for the new investment.
The new investments will take the total Dialog has invested in the island to 1.96 billion dollars which it said was the highest among foreign direct investments under the BOI, it said.
“The investment agreements span a broad scope of ICT infrastructure development by the Dialog Axiata group,” it said.
It encompassed “the expansion of 3rd generation and 4th generation high speed broadband services alongside further development of the group’s fibre optic transmission network, international telecommunications network and digital satellite television infrastructure,” the statement said.
“The Dialog Group will also direct targeted investments towards the expansion of its digital services portfolio spanning ventures and initiatives in digital payment, commerce, education and health.”
(Colombo/October 21 2015)