Indian investors say ready to invest in UTL

NEW DELHI, FEB 27 -

Indian investors have said they would invest an additional IRs 6.50 billion (Rs 10.40 billion) in United Telecom Limited (UTL), if the Nepal government issues unified license to the carrier. Indian investors hold 80 percent stake in UTL, including the Indian government’s 56.25 percent.

“We will be operating cellular mobile service as soon we receive the licence,” said AK Garg, chairman and managing director of Mahanagar Telephone Nigam Limited (MTNL) India, which has 26.68 percent share in UTL. According to him, they will expand the network all over Nepal after they get the licence.

UTL received permission to operate basic telecom service across the country based the CDMA technology about a decade ago. The Indian shareholders have showed interest in the unified license. “The expansion plan is expected to secure the profit,” said Garg.

Telecommunication Consultants India Limited (TCIL) India, another investor in UTL, has also expressed interest in increase UTL’s capacity based on the expertise gaind in other international markets. TCIL is the Indian government-owned company. It has so far extended its reach to 58 countries.

Source: The Kathmandu Post