MTNL to invest Rs.1450 crore for biz expansion

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Mahanagar Telephone Nigam Limited will make the investment in the fiscal 2011-12 to strengthen its network operations and services
MUMBAI, INDIA: In a bid to increase revenues and services, the state-run Mahanagar Telephone Nigam Limited (MTNL) has earmarked Rs.1450 crore as capex to support its network operations and services during the financial year 2011-12.

According to Kuldip Singh, MTNL chairman and managing director, the telecom company will invest Rs.1450 crore as capex during the current fiscal, which will be utilized to upgrade its network operations and launch new services.

Apart, MTNL will raise revenues by leasing out its space, towers along with the active and passive infrastructure across Mumbai and Delhi he told media after launching the push-email services Bharat Berry in Mumbai.

“We have earned around Rs.9 crore in the last fiscal from rents and expects to earn about Rs.50 crore (Rs.25 crore each from Mumbai and Delhi) in fiscal 2011-12,” Singh told reporters in Mumbai on Friday, on the sidelines Bharat Berry launch.

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