Dialog Axiata PLC - top investor for third year running
02 May, 2008 06:07:51
May 02, 2008 (LBO) – Sri Lanka's Dialog Axiata PLC, a unit of Axiata PLC Malaysia, has been named the island's single largest investor in Sri Lanka for the third year in succession by the investment promotion agency.
The Board of Investment said in a statement that its review of foreign direct investment performance during 2007 with a special emphasis on investments realized by investing companies during the year placed Dialog on top.
"The BoI recognized Dialog Axiata PLC as the company with the highest level of realized investment in 2007 totalling 328 million dollars in 2007."
Dialog Axiata PLC, which has over four million subscribers, secured the top slot in investment rankings for the third year in succession having being recognized as Sri Lanka's largest investor in 2005 and 2006 with investments of 90 million dollars and 150 million dollars.
Dialog Axiata PLC investments have been made towards strengthening the company's mobile and fixed telecommunications, broadband and digital television infrastructure.
The 2007 investments were mainly directed towards large scale expansion of services across all regions of Sri Lanka.
Infrastructure investments were also made to expand the company's GSM and 3G/3.5G mobile networks, and set up a broadband transmission network based on fibre optic and microwave transmission technologies.
"A substantial portion of the total investment realized by Dialog and its subsidiaries was directed at fixed line telephony and WiMAX-based broadband services via Dialog Broadband Networks, and Digital Television Broadcast services via Dialog Television," the statement said.
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