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Message: <blockquote data-quote="saraprobe" data-source="post: 1593315" data-attributes="member: 13914">Bharti Airtel Lanka and the Atlantis Developments Private (Ltd) have signed two agreements with BoI yesterday to commence two new projects in Sri Lanka.Our construction projects consist of 60,000 houses with an estimated cost of US$ 1 b and US$ 500 million had already been allocated for the first project. First phase of the project will be located in Rajagiriya, in one and half acre land.We will build 272 luxury apartments initially with an investment of US$ 13 million and these houses will consist of 32 floors. This project is sponsored by Natvar Parikh and Co. (Pvt) Ltd," Managing Director, Atlantis Developments (Private) Limited, Apurva Parikh said.<img src="http://i25.tinypic.com/2n1e00n.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />MD, Atlantis DevelopmentsApurva ParikhNatvar Paith and Co (Pvt) Ltd, is based on Mumbai and it is a very experienced property development company. Our subsidiary company, Atlantis Developments (Private) Limited in Sri Lanka will be very innovative in the industry.The estimated period for the initial project is three years. We will complete this project with the combination of local and international labour. "We will be importing the technical, design and architectural man power from India for this project," he said.Parikh said, the next project of Atlantis Developments (Private) Limited will be in Saunders Place, entrusted to build 30 luxury apartments with a cost of US$ 45 million."Since these projects are self-funded projects, we will be building at a maximum outcome. We also know that this is the correct time for us to invest in Sri Lankan condominium market.Every industry has its ups and downs. Natvar Paith and Co (Pvt) Ltd, Mumbai is a group of companies involved in shipping, transport, property development and various other businesses in India. We are expecting that we will be progressing in Sri Lankan market too," he said.The Bharti Airtel Lanka (Private) Limited also signed an agreement to construct and operate wireless communication towers. The investment of the project is US$ 104 million. The project will provide 15 employment opportunities initially.When asked as to why they could not launch their services on schedule Chairman and Country Head, Bharti Airtel Lanka (Pvt) Limited, Olof Haag said that the main reason was the unavailability of towers and the problem they faced when sharing it with other operators."Today, we strengthen our commitment in taking the telecommunications industry in Sri Lanka to new heights. The implementation of the passive infrastructure with this investment, covering radio communication towers, generators and shelters will not only strengthen Bharti Airtel Lanka, but will also resource other players who may opt to employ our infrastructure in deploying their services in the future as well.This initiative will open up an era of infrastructure sharing, inviting all players to leverage what we have set in motion," he said.Commenting on the signing of the contract, Minister of Enterprise Development and Investment Promotion Dr. Sarath Amunugama stated that these investments will no doubt strengthen the future of the industry and further enhance the already vibrant telecommunications market in Sri Lanka. <img src="/styles/default/xenforo/smilies/default/shocked.gif"  class="smilie" loading="lazy" alt=":shocked:" title="Shocked    :shocked:" data-shortname=":shocked:" /> <img src="/styles/default/xenforo/smilies/default/shocked.gif"  class="smilie" loading="lazy" alt=":shocked:" title="Shocked    :shocked:" data-shortname=":shocked:" /> <img src="/styles/default/xenforo/smilies/default/shocked.gif"  class="smilie" loading="lazy" alt=":shocked:" title="Shocked    :shocked:" data-shortname=":shocked:" /> <img src="/styles/default/xenforo/smilies/default/shocked.gif"  class="smilie" loading="lazy" alt=":shocked:" title="Shocked    :shocked:" data-shortname=":shocked:" /> <a href="http://www.dailynews.lk/2008/03/12/bus01.asp" target="_blank">DN</a></blockquote>

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