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Essar will invest up to Rs1,350 cr in retail

Essar will invest up to Rs1,350 cr in retail
PTI
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First Published: Thu, Mar 15 2007. 01 09 AM IST
Updated: Thu, Mar 15 2007. 01 09 AM IST
New Delhi: Essar Group, which is in talks with Vodafone Group over a stake in Hutch-Essar, will pump in Rs1,125-1,350 crore over the next three years in its telecom retail venture and is expecting revenues of Rs5,000 crore. “We will invest $250-300 million over the next three years to set up 2,500 ‘The MobileStore outlets’ across the country,” Essar Telecom Retail CEO Rajiv Agarwal said.
The company would also increase its headcount by 10-fold to 10,000 in the next three years from the current 1,000. The multi-service outlets would offer handsets, mobile accessories, new connections, value added services, after sales support and bill payment facilities.
The company currently has 60 outlest of MobileStore across India, including 21 in Delhi. “We are also looking at opening up of 4,000 touch points in the form of stores, kiosks and shop-in-shops,” Agarwal added.
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First Published: Thu, Mar 15 2007. 01 09 AM IST
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