BoI status for latest mobile player Bharti Air Tel

Shirajiv Sirimane

MOBILE CONNECTION: The Board of Investment (BoI) approved on application from Bharti Air Tel India to construct, operate and maintain a digital cellular mobile communication system to provide mobile communication services in Sri Lanka.

The project represents an investment of US$ 150 million.

This would be the fifth mobile service provider to enter the local market. CEO Airtel India, Narendra Gupta told Daily News, the investment climate was very encouraging in Sri Lanka and this was the reason for them to invest.

"Violence is something that is common to many countries and this cannot stop development," he said. "The mobile phone penetration growth is only 20 percent and we see a great opportunity in Sri Lanka," he said.

He said Sri Lanka is the fourth country they have invested and are looking out to be a major player. "We hope we could start providing connections by the end of next year," he said.

"Since we have now received BoI status we would now set up an office in Sri Lanka next month.

The Indian based company which commenced operations in 1995 has almost 4 million subscribers in India with over 40,000 base stations. The company earned a net profit of US 1 billion during the last financial year.