At least 10 Korean companies have expressed interest in the smart city project
The South Korean government signed a memorandum of understanding to participate in Sri Lanka’s $63.2 billion smart city development project, South Korean press reported. The project is part of Sri Lanka’s plan to develop nine new towns in Colombo and its adjacent areas by 2030.
The Land Ministry said Minister Kang Ho-in and Sri Lanka’s Megapolis Minister Champika Ranawaka inked the deal in Seoul on Tuesday for the partnership of the new city project.
“We believe Korea’s experiences in developing smart cities will greatly contribute to Sri Lanka’s new city development,” said South Korea’s Land Minister Kang Ho-in.
Under terms of the MoU, the South Korean government plans to share its expertise in several issues including smart water management, intelligent transport systems and smart home systems, such as home automation and digital parking systems.
Sri Lanka is looking to develop nine new cities including one near an airport and others that specialize in science, industries, tourism and logistics. Under the agreement, South Korea will take part in the development of the Katunayake International Airport area and the science technology-based Malabe.
South Korean authorities said they plan to elaborate a master plan for the development of these smart city initiatives and will select some South Korean firms to participate in the initiative. According to the report, nearly 10 South Korean firms have already expressed interest in the project. Some of these companies are Korea Expressway, Korea Land & Housing, Hyundai Engineering & Construction, POSCO Engineering & Construction and Samsung C&T.
Telenor Pakistan sole bidder for 850 MHz spectrum auction
In other APAC news, Norwegian-owned mobile operator Telenor Pakistan was the only telco to submit an offer to participate in an auction through which the Pakistani government plans to award spectrum in the 850 MHz band, local press reported.
The Pakistani telecom regulator plans to award 20 megahertz of spectrum in the 850 MHz band, which had been left unsold at an auction in 2014, and will have a base price of $395 million. The license will be valid for 15 years, the regulator said.
Other players in the local mobile market are Mobilink, Ufone and China Mobile’s Zong.
