Saudi-based group to invest in Sri Lanka free zone infrastructure

Updated 19 July 2015

Saudi-based group to invest in Sri Lanka free zone infrastructure

The recent agreement signed by Gammon Middle East with Sri Lankan President Maithripala Sirisena is expected to draw more than $10 billion in foreign investment in various projects to be established in the free-zone, said Shaikh Rafik Mohammed, chairman of the Saudi-based group.
Speaking to Arab News, Mohammed said the $1.2 billion free-zone in Colombo would boost the island state’s economic and industrial progress, attracting major multinational companies.
“We expect investment of at least $10 billion in the free zone by companies in India, China, Canada, Europe and Australia. The free-zone will also create 15,000 new job opportunities for Sri Lankan citizens,” he added.
He said Gammon has already received permission from the president to launch the Dubai-model free zone in Sri Lanka.
“We have agreed to invest $1.2 billion to construct infrastructure required for the free-zone,” he said.
The leading free zone industrial infrastructure development group Gammon has concluded preliminary agreement with the Lankan government following a day-long discussion with Sirisena recently.
The biggest motivation to Sri Lanka to enter the free zone segment came from the example set by Dubai, which had astounded the world with its Free Zone projects, Mohammed said.
Dubai is the first one among the UAE emirates to have successfully implemented Free Zone projects. It was the realization that such projects implemented with far-sightedness are indispensable for the development of any country. This attracted Sri Lanka toward the free zone concept, he added.
The Sri Lankan Government is very much interested in associating with the Gammon Group, which has already proved its credibility by successfully completing major infrastructure development projects, according to President Maithripala Sirisena.
Sri Lanka will provide 700 acres of land to Gammon for the project in the eastern province of the island nation.
“The Gammon Group is immensely glad to have accepted the responsibility to implement various development projects in Sri Lanka including the Free Zone, a Knowledge City, hospitals and roads,” Mohammed said.
He described the meeting with the Sri Lankan President as quite productive and pointed out that Sri Lanka was a country with an immense potential for development.
“The country has great possibilities for both sea and land transportation. Since the establishment of internal peace in the country, many Indian firms have started showing interest in investing in Sri Lanka and the Free Zone would open up new doors for them,” the Gammon chief said.
Gammon has developed free zone projects in Kyrgyzstan and many other countries.
The discussions were attended by various ministers from Sri Lanka including the Minister for Home Affairs, Amir Ali Shahabdeen and top officials from the country along with the representatives of Gammon Group O. M. Abubacker, P.K. Syed, managing director Gammon UAE and Mohammed Riyas, director Gammon UAE.


Zain KSA wins Best 5G Infrastructure Deployment award

Updated 12 December 2019

Zain KSA wins Best 5G Infrastructure Deployment award

RIYADH: Zain KSA has been awarded the Best 5G Infrastructure Deployment title during Telecom Review Leaders’ Summit that took place in Dubai on Tuesday, December 10, 2019. Over 600 attendee’s ICT companies from more than 23 countries worldwide participated in the 13th edition of the event which focused on the main trends in the ICT sector, namely: 5G network, cyber security, data traffic and digitalization.

Commenting on the new accolade, Chief Technology Officer Eng. AbdulRahman bin Hamad Al-Mufadda at Zain KSA, “the Best Infrastructure Deployment award reaffirms Zain’s role in being a digital lifestyle provider. He emphasized Zain KSA’s role in assisting the development and transformation the Kingdom is witnessing, mainly in terms of enabling and unlocking opportunities for people by creating a sophisticated infrastructure in line with the Kingdom’s digital transformation."

Al-Mufadda added that Zain KSA is continuously enhancing its services and enabling its customers with a new lifestyle to benefit from ultramodern technology by rapidly upgrading its offerings and adapting to the latest advancements in the sector.

Zain KSA has recently announced the completion of its first phase of its 5G network with a wide coverage encompassing 27 cities across the Kingdom through 2,600 towers. At the time of roll-out, the company’s 5G network was the 3rd largest globally and the first in the Middle East, Africa, and Europe.

The 5G network boasts a speed 10 times faster than its predecessor, supporting impressive uploading and downloading rates that will make for an exceptional user experience. The higher capacity of the 5G network, as compared to that of the 4G, will enable more devices to connect to one telecom tower simultaneously without interfering with the user experience. And the low latency where subscribers can enjoy fast response during their internet usage.

As the largest ICT industry event, the Telecom Review Leaders’ Summit offers ICT players and experts from all over the globe the opportunity to connect and share the latest innovations in the industry. Additionally, the conference features in-depth panel discussions and a demo area where participating companies can showcase their cutting-edge solutions. The Telecom Review Awards recognize industry leaders for their efficiency and their efforts in promoting the telecom and ICT sector globally.

About Zain KSA:
It is a leading digital service provider in the Kingdom founded in 2008. It offers many services including telecom services, 5G network, digital payment services, cloud computing, IoT solutions, fiber internet services, drones, and many others.

For more information, please contact:

Salman AlHarbi - Corporate Communication Senior Manager - Cell: +966592443093- [email protected]