April 19, 2019

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    SLT inks USD 415mn ICT Investment Agreement with BOI

    April 24, 2014

    Sri Lanka Telecom (SLT), has received flagship status from the Board of Investment (BOI) after committing a total investment of USD 415.44 million to undertake telecommunication, information technology, broadband and infrastructure expansion in the country within the next two years. On Wednesday(23), the company entered into this landmark multi-million USD telecom investment agreement with the BOI; Dr. Lakshman Jayaweera, the Chairman – BOI of Sri Lanka and Nimal Welgama, the Chairman - SLT Group signing on behalf of the two organizations in the presence of Lalith De Silva, the Group CEO of SLT.

    This investment agreement will encompass the expansion of multi-faceted national ICT infrastructures: Internet Data Centers (IDCs), Voice Services, Enterprise and Wholesale Services, High Speed Broadband Services, Peo TV expansion, Fibre Optic Network expansion, 4G LTE expansion, International Connectivity, Fiber-to-the-home (FTTH) and Wi-Fi Wireless Broadband projects. The SLT group has invested over USD 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 which is enormous in terms of magnitude. Since obtaining BOI approval in 2007, SLT has invested in excess of Rs. 57 billion / USD 485 million to improve the country’s telecommunication infrastructure.


    Soon after the end of the conflict, SLT was at the forefront to rebuild and restore the national telecommunication infrastructure in the cleared areas of the Northern and Eastern provinces of our country.  The Telecommunication Regulatory Commission (TRC) has entrusted SLT with the task of building the National Telecommunication Backbone Network (NBN) to provide high speed connectivity, with highest redundancy and uninterrupted access to services to all telecommunication service providers in Sri Lanka. With all these endeavors SLT will be a catalyst for change and transformation in Sri Lanka and thereby truly unite the entire nation as ‘one country, one voice.


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