• PAGE ONE
• INDEX
• HOME

RIL hikes outlay for infotech venture

Our Bureau

MUMBAI, April 30

RELIANCE Industries Ltd (RIL) has increased the capital outlay for its infocom venture by nearly two-thirds or 66 per cent. It plans to invest over Rs 25,000 crore over the next three to five years instead of earlier estimated expenditure of over Rs 15,0 00 crore.

The RIL Managing Director, Mr Anil Ambani, said that the slowdown in the global telecom industry would lead to lower equipment and fibre costs for the company.

The project is proposed to be financed with the debt equity in the ratio of 2-to-1 (2:1). The infocom venture will have total equity requirements of about Rs 8,000 crore and the balance of over Rs 17,000 crore would be met by way of local and internation al debt. In the expanded project, RIL would remain lead investor in the venture.

``Our new initiative in the infocom infrastructure and services sector will accelerate our growth impetus and firmly establish India's rightful position as the destination of choice for provision of IT/telecome enabled services around the globe,'' he sai d.