Dialog signs USD150 million BOI investment agreement

31 Jul 2013

Sri Lanka’s largest cellco by subscribers Dialog Axiata has signed a new USD150 million infrastructure development agreement with the country’s Board of Investment (BoI), which it says will take its cumulative investments to USD1.5 billion, reports Ceylon Daily News. The investment will drive the expansion of Malaysian-backed Dialog’s 3G and 4G mobile broadband, fibre-optic, fixed local access and international telecoms networks. ‘3G services will also be expanded to all parts of the country. Dialog has close to 3,000 transmission sites in the country; we are now connecting all sites with the fibre-optic cabling,’ said Hans Wijayasuriya, Dialog’s group CEO. Dialog will also channel part of the investment into the development of an international cable landing station, which it says will commence construction ‘in the near future’.

Sri Lanka targets USD2 billion in Foreign Direct Investments (FDI) this year; during the first half of the year it received USD430 million worth of FDI.

Sri Lanka, Dialog Axiata