Sri Lanka Telecom and Mobitel invest over Rs. 25 billion in fiber technology
Sri Lanka Telecom (SLT)-Mobitel has reportedly announced that an investment of over Rs. 25 billion has been made annually in the past few years on infrastructure development, especially to rollout “Fibre To The Home (FTTH)” high-speed broadband networks and 4G LTE Mobile BTS expansions.
According to reports, this is to facilitate an average 30% growth in customer demand for data with each lockdown wave, and enhance capacity, speed, and bandwidth of internet users.
The unprecedented spread of the coronavirus pandemic early last year across the country meant businesses, education, and social interaction heavily depended on connectivity, posing a challenge for the telecom industry as demand for connectivity increased exponentially, exceeding existing capacities or capabilities, according to local media reports.
Given the increased demand, SLT-Mobitel and its dedicated staff of over 10,000 functions as an essential service, supporting national connectivity priorities while introducing innovative solutions to meet this unprecedented demand, The Morning has reported.
Through its pioneering fibre-optic and ADSL broadband networks, SLT-Mobitel offers uninterrupted connectivity to Sri Lankan homes, enabling them to continue work operations, education, and entertainment activities during travel restrictions and lockdown periods while further investing in enhancing and expanding coverage to meet increasing demand, local media reports stated.
With Sri Lanka’s ongoing development agenda and the country becoming an emerging business destination in the South Asian region, the country’s ICT and digital infrastructure development sectors have become hotspots for business/investment opportunities in the country. Sri Lanka’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country have also boosted the country’s attraction as a business/investment destination in the region. The government of Sri Lanka is focused on taking the country to the next level of development and meeting the demands of the fast evolving ICT and digital infrastructure is of dire importance. Foreign businesses/investors could therefore explore business/investment opportunities in Sri Lanka’s ICT and digital infrastructure development sectors.
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