It is the largest deal awarded by any Indian telecom operator during this year.
The deal also marks the first step towards the roll-out of the company's three-year capex (capital expenditure) plan of about $6.6 billion or Rs 55,000 crore announced earlier.
“Vodafone Idea (VIL) has concluded a mega, about $3.6 billion (around Rs 300 billion), deal with Nokia, Ericsson and Samsung for supply of network equipment over a period of three years. The capex programme is directed towards expanding the 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth,” the company said in a statement.
The supplies against these new long-term awards will start in the coming quarter.
The top priority for the company is to expand the 4G coverage to 1.2 billion Indians, the statement said.
VIL CEO Akshaya Moondra said that the company has started the investment cycle and it is on the journey of VIL 2.0.
This story is from the September 23, 2024 edition of Millennium Post Delhi.
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This story is from the September 23, 2024 edition of Millennium Post Delhi.
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