Modicorp scouts for JV partner

NEW DELHI, Apr 18: BK Modi8217;s Modicorp is looking for a foreign joint venture JV partner for providing internet services in the country, a top official of the company has said.

Internet is part of telecom and information technology and this is an area where we see good growth coming in the near future, Modicorp MD Deepak Mohla said. Modicorp is planning for a foreign partner after having announced a major restructuring by the company last month by focussing on information technology and telecommunication along with moving out of non-core activities.

Mohla said among the new focus areas of Modicorp include internet service provider, software development and e-commerce apart from value-added service provider in the telecommunication sector. In addition to it, Modicorp will have focus in cellular phone operations where the company is already performing well. Currently Modi Telstra JV between Telstra and Modicorp, operate cellular service in Calcutta while Spice Telecom operates cellular service in Karnatakaand Punjab.