Hutch signs BOI agreement to invest US $ 115mn

From Left: Hutch Head of Legal Sharmini Jayasuriya, CFO Lalith Fernando, Finance and Operations Advisor Bandhunath De Alwis, CEO Thirukumar Nadarasa CEO Hutch, BOI Director General Champika Malalgoda Director and Senior Deputy Director-Legal, Shama Herath

Hutchison Telecommunications Lanka (Pvt) Ltd (Hutch) signed a supplementary agreement with the Board of Investments (BOI) to invest US $ 115 million to roll out its islandwide 4G network and support the growth of data and broadband in Sri Lanka.

Hutch will be the third 4G operator in Sri Lanka.

The company has been operating in Sri Lanka for over two decades and is a subsidiary of CK Hutchison of Hong Kong, which is a Fortune 500 Company based in Hong Kong. 

Strengthening its network position, Hutch recently merged with Etisalat Lanka (Private) Limited and will operate under the new brand name Hutch.  

“By integrating the two networks, the combined business will provide Sri Lankan customers with a major boost in both rural and urban network coverage and a renewed commitment in offering superior communication services to all customers,” Hutch CEO Thirukumar Nadarasa, said.

“Hutch recently launched 4G services in the Western Province and nationwide roll-out has also begun. The Hutch 4G network will unleash incredible benefits and capabilities for all customers,” he added.