Network Communications to branch out with Rs 75 m investment

Indunil HEWAGE

Network Communications a leading IT and mobile solution provider in Sri Lanka is on an expansion with around Rs 75 million investment.

Network Communications (Pvt ) Ltd, Chief Executive Officer Larry Adams said, having understood the potential in the IT and mobile industry in Sri Lanka, they will be expanding their footprint with the construction of fifty branches islandwide.

At the initial stage, Network Communications will be infusing Rs 30 million to set up 20 branches and the remaining thirty branches will be constructed with Rs 45 million.

According to Adams, these branches will consist of mobile phones, computers, laptops and notebooks.

“We have expedited the expansion process by acquiring several blocks of land in various areas and is on the lookout to diversify into software, mobile apps, animation, and business process outsourcing,” Adams said.

Commenting on the IT and BPO industry, Adams said these industries are growing at a rapid pace with 17 percent and 15 percent growth per annum respectively. Information technology has touched 90 percent in the country and at the moment the demand for the remaining balance is also increasing.