Tata Teleservices to invest $2 bn on infrastructure

Monday, 23 February 2004, 08:00 Hrs
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NEW DELHI: Tata Teleservices Ltd., one of India's leading private sector telecom services firms, said Sunday it would invest over $2 billion in the next two years to strengthen its position in the country's booming phone market.

"We have committed more than $2 billion for network expansion and infrastructure building for our telephone business," said Kishor Chaukar, managing director of Tata Industries, the promoter of Tata Teleservices.

"This will be in addition to $1.5 billion that we have invested so far. The new investment will be for a period between 18 months and two years," Chaukar told media persons on the sidelines of a business conference here.

"The fresh investments of over $2 billion will be raised partly through debt and partly through equity."

Tata Teleservices offers integrated telecom solutions to its customers under the Tata Indicom brand.

Currently operating in six states -- Delhi, Maharashtra, Karnataka, Andhra Pradesh, Tamil Nadu and Gujarat -- the company has a customer base of about 1.5 million, according to information posted the company website.

With a planned nationwide footprint across the country, Tata Teleservices has reportedly applied for licenses for 11 more circles by paying 4.17 billion to the government.

The new circles, where it proposes to launch service by the middle of the current calendar year, include Punjab, Haryana, Himachal Pradesh, Rajasthan, Kerala, and Uttar Pradesh (East).

Source: IANS
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