Dialog Telekom invests $150m

Dialog Telekom(DT), the largest mobile communication operator in the country invested US$ 150 million in the telecommunication sector in Sri Lanka. The investment agreement was signed between Board of Investment (BOI) and Dialog Telekom on Friday.

Dialog Telekom will invest US$ 125 million during the next two years on mobile and wireless local loop fixed telephony. Another US$ 25 million will be invested on broadband, fibre optics backbone and international gateway infrastructure by the Dialog Broadband Networks (Pvt) Ltd, the DTs fully owned subsidiary.

Chairman of DT and the Telekom Malaysia Tan Sri Dato said that this investment brings Dialog's total commitment to the telecommunication sector to US$ 450 million. This signifies our utmost and continued confidence in the Sri Lankan market and the investor friendly policies of the Sri Lankan government.

(GW)