New Delhi, Sep 22 (IANS) Telecom operator Vodafone Idea on Sunday said it has concluded a $3.6 billion deal with Nokia, Ericsson and Samsung for supply of network equipment over a period of three years and strengthen its footprint.
According to the company, the deal marks the first step towards the rollout of the company’s transformative three-year capex plan of $6.6 billion.
“We have kickstarted the investment cycle. We are on our journey of VIL 2.0 and from hereon, VIL will stage a smart turnaround to effectively participate in the industry growth opportunities,” said Akshaya Moondra, CEO, Vodafone Idea.
The capex programme is directed towards expanding the 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth, said the company.
“We look forward to work closely with all our partners as we move into the 5G era,” said Moondra.
The contracts will allow the telecom player to capitalise on the latest state-of-the-art equipment to offer enhanced customer experience.
In addition, said the company, the new equipment will also lead to efficiency gains in energy and thus lower operating costs. The supplies against these new longterm awards will start in the coming quarter.
“The top priority for the company is to expand the 4G coverage to 1.2 billion Indians,” it said.
Post the recent equity raise of Rs 240 billion and additional spectrum acquisition of Rs 35 billion in June 2024 auction, the company has also executed some quick win Capex, while simultaneously working on concluding these long-term contracts.
This will result in 15 per cent boost in capacity and an increase in population coverage by 16 million by September.
The company said it is also in advanced stage of discussions with its existing and new lenders to tie up Rs 250 billion of funded and Rs 100 billion of non-fund-based facilities.
—IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
