Regional rivals China, India eye Sri Lanka Telecom

Investors from China and India, including prominent companies like Jio Platforms Ltd, a unit of Reliance Industries, and Gortune International Investment Holding Ltd, have shown interest in acquiring Sri Lanka Telecom. Gortune International represents private Chinese investors. This interest reflects the increasing involvement of these countries in Sri Lanka's economic sectors, notably in telecommunications and port operations.

India's Airtel already operates a mobile unit in Sri Lanka's telecom sector. Additionally, the Adani Group from India is engaged in developing a container terminal at Colombo Port, where China also has a terminal. The Adani Group is further involved in constructing renewable energy plants in Sri Lanka, although there have been concerns regarding the lack of competitive tendering for some of these projects. Sri Lanka previously blocked a Chinese investment in the power sector in the Northern region, reportedly due to Indian influence. Lycamobile also emerged as a third bidder in this context.

https://economynext.com/regional-rivals-china-india-eye-sri-lanka-telecom-147326/

Economy Next

2024-01-15

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