The Board of Investment of Sri Lanka signed an agreement with Butani Capital Ltd to build a 60,000 sqft of Purpose Built Office space aimed at supporting Business Process Outsourcing (BPO) projects, representing at an investment of over half a Billion Rupees to support the BPO sector in Sri Lanka.
This project will also generate employment opportunities as it will create more than 200 jobs in the country. The project will be located on ElvitigalaMawatha, Colombo 5 and will provide 10 stories of easy plug and play work environment for BPOs, cost effective incubation facilities for startup BPOs, common conference halls, recreational and relaxation areas, meals rooms, banking facilities, about 100 vehicle parking slots and other facilities.
The Directors of the company and the project consultants are expecting that the project will be completed within 18 months,effective January 2013.
The agreement was signed by Mr.MMC Ferdinando, Chairman /Director General on behalf of the Board of Investment of Sri Lanka and Mr. Dinesh Butani, Director of Butani Capital.
Chairman /Director General of the BOI stated that “this project is important to the BOI as it supports one of the strategic objectives of the Government, namely to transform Sri Lanka into an important Communication Hub where knowledge based activities can contribute US$ 1 Billion in export revenue. We are keen to see investment serving a useful purpose to society by supporting long term national goals and creating a new capacity in the country in the field of IT/BPO, which will create new opportunities for our youth.”
Director of Butani Capital, Dinesh Butani, a Pioneer in the BPO Industry in Sri Lanka said that “This is the 1st project being launched and other projects are being looked at, to fulfill internal BPO infrastructure requirements as well as to provide Purpose Built facilities at competitive pricing to the growing BPO industry in Sri Lanka. He also said that the location was chosen based on BPO employee demographics and minimizing travel times to and from work for staff working both day and night shifts.
Butani Capital is a newly formed Company and will primary focus on funding BPO related infrastructure projects, BPO startups and technology ventures.