Dialog Axiata inks USD250m investment with BOI

Sri Lankan fixed and mobile operator Dialog Axiata Group has reportedly entered into two supplementary agreements with the Board of Investment of Sri Lanka (BOI) for an investment of LKR46.1 billion (USD254.1 million) in the country’s ICT infrastructure. Local news portal Ada Derana writes that the BOI investment breaks down as USD190.7 million for Dialog Axiata and USD63.4 million for its Dialog Broadband Networks subsidiary, with the monies to be used for the expansion of mobile and fixed 4G LTE networks, the evolution of IP and fibre-optic networks, and the further development of the Dialog Axiata Group’s Wi-Fi and broadband networks. Further, the investment is also expected to help benefit the wider economy through the deployment of 5G technologies, it said.