Indian investor keen on setting up IT Park, IT school in Vavuniya | Daily News


Indian investor keen on setting up IT Park, IT school in Vavuniya

An Indian investor has expressed interest on setting up an IT Park and an IT school in Vavuniya, to offer back up services to their operations in Bangalore. The total investment would be around USD 40 million, making it one of the largest private sector projects in the district.

“The company is currently based in Bangalore and are offering IT based services to the US and European companies. They wish to expand and are looking for large pools of human talent outside India,” said, Yamuna Kottambage, founding President Yamuna Kottambage Humanity Foundation.

She said that through the Foundation and Indian based Chambers, she approached the Indian company and made a proposal to invest in Vavuniya. “Bangalore company officials then visited Sri Lanka and expressed interest in investing and then through the government we offered them a 20 acre land on long term lease.”

After the change of government, they have indicated that there is a conducive investment climate in Sri Lanka. “From an Indians point of view, firstly, India - Sri Lanka relations have increased and political stability returned.”

“We are now approving the final project proposal and would commence this project from September, as a BOI approved venture.” Under the first stage, a Computer Training and English School to accommodate 550 students would be opened in May, while students attending classes would be paid and allowance to ensure they continue attending classes.

“After the completion of the three month course, the top 500 students would be absorbed to the BPO center which is part of the ICT Park.”

She said that the ICT Park would be one of the key focal points of development in the region, helping to usher in economic prosperity. In addition, she said that they too would be getting involved in a housing project for residents of the area. “This is a CSR initiative that is been done with the help of the Foundation as well as the Sri Lankan diaspora in Canada.”

Kotambage who is also the owner of ‘Malaysian Way,’ which is a Malaysian and Thai restaurant at the Racecourse compound, said that the houses would be built by a Indian company, comprising two rooms, a kitchen and a toilet.

“Under the first phase, we hope to build 50 houses and offer it free to needy residents. Our target group is young widows and people who are in financial difficulties after taking Micro loans on high interests.” 

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