Tata Comm plans $2 bn spend for global expansion

Tata Comm plans $2 bn spend for global expansion
Comment E-mail Print Share
First Published: Thu, Feb 14 2008. 12 03 AM IST
Updated: Thu, Feb 14 2008. 12 03 AM IST
Mumbai: Tata Communications will spend $2 billion (Rs7,940 crore) over the next three years to expand globally as it seeks to boost overseas revenue, a top official said on Wednesday.
The company is building undersea cables between Asia and Europe and also across Asia, including in a consortium cable system between India and France. “We are seeking to grow our enterprise services business globally,” managing director N. Srinath said. “Within India, we are building in-city infrastructure and focusing on broadband.”
He said $500 million would be invested in undersea cables, and a similar amount in network services. The remainder would be spent on enhancing value-added services.
The firm’s shares provisionally rose 5.4% Rs472 in a firm Mumbai market that rose 2.5%.
Another official said it had formed a partnership in China that would enable Tata’s global clients gain access to customers in China.
feedback@livemint.com
Comment E-mail Print Share
First Published: Thu, Feb 14 2008. 12 03 AM IST