Sri Lanka Telecom (SLT) has received flagship status from the Board of Investment (BOI) after committing a total investment of USD 415.44 million to undertake telecommunication, information technology, broadband and infrastructure expansion in the country within the next two years.
This investment agreement will encompass the expansion of multi-faceted national ICT infrastructures: Internet Data Centers (IDCs), Voice Services, Enterprise and Wholesale Services, High Speed Broadband Services, Peo TV expansion, Fibre Optic Network expansion, 4G LTE expansion, International Connectivity, Fiber-to-the-home (FTTH) and Wi-Fi Wireless Broadband projects.
The SLT group has invested over USD 1.3 billion in telecommunication service provisioning since coming under the BOI in 2007, which includes the total value commitment of this new agreement; and the overall investment the group has made throughout its entire 150 year span which is enormous in terms of magnitude. Since obtaining BOI approval in 2007, SLT has invested in excess of Rs. 57 billion/ USD 485 million to improve the country’s telecommunication infrastructure.
Mr. Nimal Welgama, the Chairman, SLT Group commented, “Investments made by SLT towards the country for a period of over 150 years have placed Sri Lanka as well as our country’s entire ICT sector at the forefront of the region by facilitating multi-faceted ICT solutions to the nation, and helping to increase its strategic geographical advantage. We are indeed humbled by the confidence placed in us by the GoSL, and BOI.
On April 23rd, the company entered into this landmark multi-million USD telecom investment agreement with the BOI; Dr. Lakshman Jayaweera, the Chairman – BOI of Sri Lanka and Mr. Nimal Welgama, the Chairman - SLT Group signing on behalf of the two organizations in the presence of Mr. Lalith De Silva, the Group CEO of SLT.