Malaysian based company to invest in smart pole network in Sri Lanka
Sri Lanka’s state investment promotion agency, the Board of Investment (BOI) has reportedly stated that Edotco Lanka, which is a telecom tower affiliate of Malaysia’s Axiata group, is to invest in a ‘smart pole’ network that would provide street lighting, security cameras and advertising in addition to connecting mobile devices.
The Board of Investment has assigned the relevant agreement where Edotco will deploy a 1,000 pole network around Sri Lanka over the next three years.
“Understanding the importance of aesthetics in urban development, these multi-purpose innovative solutions are sleek, camouflaged, green and blend well with town-planning for modern metropolis cities,” the Board of Investment has said in a statement.
“The company is also working on partnerships to be able to provide electric charging stations, to be powered by the multi-purpose poles.”
Edotco reportedly operates 29,500 towers in Malaysia, Myanmar, Bangladesh, Cambodia, Sri Lanka and Pakistan.
The multi-purpose poles could also be used for parking and disaster monitoring purposes.
OSL take:
The investment in a smart pole network by a Malaysian based company is indicative of the evolving investment portfolio of Sri Lanka. The country is engaged in an aggressive development programme covering the entire island. Therefore, Sri Lanka at present has a list of wide ranging business/investment opportunities in the country. The government of Sri Lanka is continuously improving on the ease of doing business environment in the country making the country more business conducive for the foreign business/investor.
| Article Code : | VBS/AT/22072019/Z_2 |