SLT invests US$ 415m on expansion drive

Sri Lanka Telecom (SLT) has received flagship status from the Board of Investment (BOI) after committing an investment of US $ 415.44 million to undertake telecommunication, information technology, broadband and infrastructure expansion within the next two years.

The company entered into this landmark multi-million US dollar telecom investment agreement with the BOI last week.

BOI Chairman Dr. Lakshman Jayaweera and SLT Chairman Nimal Welgama signed the agreement. SLT Group CEO Lalith de Silva was also present.

This investment will encompass the expansion of multi-faceted national ICT infrastructures: Internet Data Centres (IDCs), Voice Services, Enterprise and Wholesale Services, High Speed Broadband Services, Peo TV expansion, Fibre Optic Network expansion, 4G LTE expansion, International Connectivity, Fibre-to-the-home (FTTH) and Wi-Fi Wireless Broadband projects.

The SLT group has invested over US $ 1.3 billion in telecommunication service provisioning since coming under the BOI umbrella 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.

Since obtaining BOI approval in 2007, SLT has invested in excess of Rs. 57 billion (US $ 485 million) to improve the country's telecommunication infrastructure.