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This is an archive article published on February 23, 2004
Telecom: Tatas to pump in 2 bn
Corporate giant the Tatas would invest a little over 2 billion in its telecom operations over the next two years and said many of its group...
Written by Press Trust Of India
New Delhi | February 23, 2004 12:00 AM IST
2 min read
2 min read
Corporate giant the Tatas would invest a little over 2 billion in its telecom operations over the next two years and said many of its group companies would tap the East Asian markets.
8216;8216;We will invest over two billion dollars for strengthening Tata teleservices infrastructure and companies like TACO, Tata motors, TCS and Tata steel, and will increasingly focus on growing markets of the East Asian countries,8217;8217; Tata industries MD Kishore Chaukar said.
The proposed 2 billion investment would be a combination of both 8212; debt and equity 8212; he said, adding that the Tata teleservices has already invested 1.5 billion. Declining to give any time frame for the proposed mega public issue of Tata Consultancy Services TCS, Chaukar said, 8216;8216;Merchant bankers will decide on it.8217;8217;
He said, tapping the booming Asian markets made sense in view of quality, delivery schedule, overall logistics and benefits emanating from a plethora of bilateral trade treaties being worked out with a number of countries in the region.
Listing the Tata group companies interested in making their presence in the overseas markets in the region, he said, Tata auto component systems, Tata motors, Tata steel and Tata tea would look at the Asian markets afresh. Chaukar also said that the Tatas were ready to foray into the DTH television segment in India.
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