×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Airtel unveils $8 bn investment plan by 2010

Airtel unveils $8 bn investment plan by 2010
PTI
Comment E-mail Print Share
First Published: Sun, Mar 11 2007. 05 56 PM IST
Updated: Sun, Mar 11 2007. 05 56 PM IST
New Delhi: Striving to retain the leadership position in the mobile industry, Bharti Airtel will invest a massive eight billion dollars by 2010 to have a 25% market share.
“By 2010, estimates are that India will have a subscriber base of 400-500 million. Bharti strives to retain up to 125 million or 25 per cent of the market,” group Chairman Sunil Mittal told PTI.
The aggressive expansion programme assumes importance in the wake of imminent entry of global mobile leader Vodafone through acquisition of Hutch-Essar, announcement of after which Mittal had said that Bharti would continue to be the numero uno player in India.
The company since its inception has made an investment of about eight billion dollars (about Rs 36,000 crore) for various services, including mobile, basic, national and international long distance, undersea cable and broadband services.
“We are spending nearly two billion dollars every year as the future (in terms of creation of infrastructure) continues to be stronger than the past... by 2010, we would have doubled the investment.
“We had put up about 10,000 base stations by 2005 end, another 10,000 by 2006 and this year (2007-08) we would add about 20,000,” he said.
Stating that Bharti has a subscriber base of about 34-35 million, Mittal said based on annualised figure of last quarter, revenues would be touching four billion dollar (Rs 18,000 crore) this year and could double by 2010.
Comment E-mail Print Share
First Published: Sun, Mar 11 2007. 05 56 PM IST
More Topics: Corporate News | Sector Spotlight |