Tuesday, Jan 25, 2005
Tuesday, Jan 25, 2005 |
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NEW DELHI, JAN. 24. Undeterred by the controversies over investment, equity and corporate governance, Reliance Infocomm, headed by Anil Ambani, today said it would complete the planned investment of Rs. 24,000 crores by March 2006. Reliance Infocomm would invest Rs. 9,000 crores over the remaining period in addition to Rs. 15,000 crores pumped in so far, Kamal Nanavati, Chief Operating Officer, told reporters here, but did not comment on the issues pertaining to the company, which have been raised in the course of the fight between Mr. Mukesh and his younger brother Anil. Mr. Nanavati said Reliance India Mobile Service (RIM) would expand to cover four lakh villages during 2005. The company had laid a network of about 70,000 km of optical fibre cables across the country, he said, adding the expansion plan to cover over 5,700 cities and towns would also cover 91 per cent of the country's national highways and 85 per cent of the rail route. On the source of funding of the Rs. 24,000 crore project, Mr. Nanavati said, "It is a fully funded project." He claimed that the company had a subscriber base of over one crore across its 20 circles as on December 31, 2004, which it hoped to double by the end of 2005. With regard to spectrum, which is essential in maintaining the quality of the services, the company said it had taken up the matter with the Wireless Planning Council (WPC) and the Department of Telecom (DoT) to get additional spectrum. The company has also raised the issue of differential spectrum allocation between CDMA-based operators such as Reliance Infocomm and GSM based players. "We are getting 5 Mhz whereas the GSM operators get 11 Mhz... We have taken up the matter with the authorities concerned and hope to resolve the matter soon," he added. PTI
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