May 27, Colombo: Sri Lanka's investment promotion agency, the Board of Investment signed a supplementary Agreement with Hutchison Telecommunications Lanka (Private) Limited permitting the enterprise to set up a warehouse facility at Diyabula Estate Wattala to be used for storage.
The Agreement was signed on behalf of the BOI by Chairman of the Board Mangala Yapa and by Thirukumar Nadarasa, Chief Executive Officer of Hutchison Telecommunications Lanka (Pvt) Ltd. Also present was Kamalapriya Bandunath de Alwis, Head of Finance of Hutch.
With reference to his Company and the Agreement with the BOI, Mr. Nadarasa said they have launched 4 G services in the Western region and Eastern region of the Island and the next aim is to extend their services to the Southern Province.
"The merger between Etisalat and Hutch is proceeding on schedule. Everything is moving according to our plans and we have not been too disrupted by recent events," he said.
"We continue with our investment in the country which is proof of our confidence in the long term prospects of Sri Lanka."
Mobile Services in Sri Lanka are highly developed with 5 operators in the country. In December 2018 it was estimated that there were 32,528,104 mobile phones in the country (or 150 mobile phones per 100 inhabitants). In contrast there are 2,484,676 land lines (or 11.5 fixed line phones per 100 inhabitants).
The widespread use of mobile phones in Sri Lanka has created enhanced opportunities for communications and knowledge dissemination.