Videocon Telecom, part of the $10 billion Videocon Group, on Tuesday announced an investment of over Rs. 210 crores in Gujarat telecom circle in the current financial year.
The investment will be on its GSM services network expansion, where the telco plans to deploy over 450 new cell sites with a target to acquire 3.5 million new customers this financial year in Gujarat circle, the company said in a statement.
“In order to strengthen our footprint in Gujarat circle, we will be investing Rs. 210 crores in this financial year. Our investment will primarily be on network expansion and rollout of broadband services, in addition to other emerging businesses” said Arvind Bali, Director & CEO, Videocon Telecommunications Ltd.
Of these 450 new sites, 330 sites will be for geographical coverage expansion across 142 new towns, and another 120 sites for capacity enhancement to accommodate more users, the statement added.
The telecom company currently has 3,989 cell sites in Gujarat and provides network coverage across 836 towns in the state.
The company, which recently bagged pan-India Internet Service Provider (ISP) license, will also be investing on roll out of broadband services, primarily on FTTH (fibre to the home) and wireless broadband on the free band 2.4 Ghz spectrum, the company said.
It plans to roll out broadband services in select pockets across key cities including Ahmedabad, Surat and Vadodara in phase 1 of its rollout plan.
The company further said that it is planning to venture into fast growing mobile wallet and e-commerce business besides launching a global SIM for international travellers.