Anil Ambani's Reliance to invest $2.5 bn in 2007-08
Thursday, 01 February 2007, 18:30 IST
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New Delhi: Reliance Communications chairman Anil Ambani said the company would invest $2.5 billion in fiscal 2007-08 to expand its businesses in India. "We will invest $2.5 billion in the upcoming fiscal 2007-08 to support the expansion of our India focussed business," Ambani told investors and analysts on a conference call here. "It's an early stage of multi-year growth opportunity," he added, reiterating the company's intention to become India's largest wireless service provider. Ambani said the company intends to put up 20,000 towers, which it will share with other major cellular service providers like Bharti Airtel, Hutch and Spice. Elaborating on the company's plans within its GSM circle, Ambani said: "In our GSM lines we have already increased our capability to more than 10 million. We will now expand to 2,200 towns within our existing GSM circle. "We intend to be the largest GSM provider within the circle in which we operate." Reliance Communications currently provides GSM service in the northeast regions of India and Himachal Pradesh. It is planning DTH (direct-to-home) services and IPTV in mobile by the third quarter of 2007-08. On the recent tariff reduction in roaming by the Telecom Regulatory Authority of India (TRAI), he said the company would lose almost $50 million in revenues.
Source: IANS
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