New SOE to commercialise Lotus Tower

The Cabinet of Ministers has given its approval to set up a state-owned enterprise (SOE) to commercialise the Lotus Tower, which is nearing completion.

The tower, funded by Exim Bank of China, will be used for telecommunication and leisure activities. The construction of the tower is carried out by a Chinese firm and once completed, will be handed over to the Telecommunication and Regulatory Commission of Sri Lanka (TRCSL).