Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Tata Teleservices to invest $2 B in networks
By siliconindia staff writer
|
Friday, 05 March 2004, 20:30 IST
NEW DELHI: Tata Teleservices Ltd, the telecoms arm of Tatas, plans to invest $2 billion in expanding facilities in a booming market for wireless services, a top official said on Thursday.
The Mumbai-based firm will spend the money on expanding networks in six circles and rolling out CDMA-based mobile and fixed line services in 11 new circles by mid-2004, head of the group's telecom operations KA Chaukar told reporters.
"We should spend around $2 billion in a little more than two years," Chaukar said, adding the company was likely to raise the funds equally through debt and equity.
India's telecoms sector, one of the fastest growing markets globally, is carved up into 23 circles or zones. Each circle roughly covers a state or a large city.
Tata Teleservices is among the more than a dozen players fighting for a share of the domestic mobile market that has more than 30 million users. The company's user base exceeds 1.5 million customers.