Nov 10, 2010 (LBO) – Sri Lanka will start building a 350-metre telecom tower in the capital Colombo in December and intends to sell shares to the public in a firm to be set up to operate it, an official said. Television broadcasters, radio stations and telephone operators will be able to use the tower for a fee. The tower, to be called ‘Lotus Tower’ is to be built with a 100 million dollar financing from China, said Anusha Pelpita, director general of the Telecommunications Regulatory Commission.
The state is planning to list a 30 percent stake in the tower in the Colombo stock exchange in two years, he told Vimasuma.com, our sister news website.
The telecom tower will be built on land owned by the State Engineering Corporation in Peliyagoda, a northern suburb of Colombo.