Telecom Tower

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.

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The telecom tower will be built on land owned by the State Engineering Corporation in Peliyagoda, a northern suburb of Colombo.