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| Sunday, 11 January 2004 |
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| News Business Features Editorial
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SLT to go for int'l listing Sri Lanka Telecom (SLT) will go for an international listing in the near future. SLT is one of the most vital utility companies in the country with an annual turnover in excess of Rs 25 billion, has a workforce of 7000 and will be the first local company to be listed internationally, said SLT Chairman Thilanga Sumathipala. "SLT is now ready for that move and hopes to be listed internationally this year," Sumathipala said at the foundation stone laying ceremony for the Telecom-City project. Sumathipala said Telecom-City would cost Rs 50 billion and will be constructed in a 67-acre land next to the Borella Prison to provide a truly globally accessible service from Sri Lanka. This project will be in three stages, and will be completed in 2010, Sumathipala added. He said the first stage would cost five billion rupees and will come up in a seven-acre land belonging to SLT and would be completed by the end of the year, while for the next two phases, 59 acres belonging to the Borella Prison would be acquired. The project would provide enhanced infrastructure of the highest global standard for international call centre operations. It will also be the first to cater to outsourcing of Information Communication Technology to many segments of the market place. Telecom-City services will be offered in four basic areas, call centre operations, data storage and management services, communications hubs and vendor businesses supported by SLT's high technology infrastructure with its abundant capacity, bandwidth and security. Personnel training will be provided by the SLT through training centres already in operation. According to Sumathipala, this project will lead to the employment of 12,500 skilled Sri Lankans by the end of the second phase. It is expected to create 100,000 jobs by the end of the third phase. Telecommunications Minister Imthiaz Bakeer Marker said the industry had been revolutionised in the last few years and today international call rates have come down drastically. He said the SLT had faced all challenges successfully. (HS) |
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