Sri Lanka Telecom, cellcos in US$200mn expansion; 4G drive
ECONOMYNEXT – Sri Lanka’s mobile and fixed access networks have been given approval to invest over 200 million dollars in network expansion and upgrading into fourth generation (4G) broadband services.
Sri Lanka’s Minister of International Trade and Investment Malik Samarawickreme told parliament 1.3 billion US dollars of investment proposals had been approved by the Board of Investment of Sri Lanka up to April 2018.
Sri Lanka Telecom, a fixed access provider which also has a fiber optic backbone has been approved to invest 79 million dollars to expand its network.
Mobitel (Pvt) Ltd, a cellular unit of SLT will invest a further 80 million US dollars to upgrade coverage to 4G LTE broadband.
Hutchison Telecommunications Lanka, a mobile firm which is expected to merge with Sri Lanka’s Etisalat unit has also been approved to invest 57 million US dollars. (Colombo/May24/2018)