Videocon to invest Rs 340 crore in expansion of internet services


videoconVideocon Telecom today said it will invest over Rs 340 crore in a year to expand internet services in 6-7 circles starting with Haryana, Gujarat and Madhya Pradesh.

We are an integrated telecom player, and we are expanding our footprint. Internet is the next big thing in India, and the opportunity is immense. We plan to invest over Rs 340 cr on this venture within next one year, and owing to our experience in Punjab,” Videocon Telecom Director and CEO Arvind Bali said in a statement.

The Department of Telecom yesterday granted pan-India internet service provider (ISP) licence to Videocon group firm Quadrant Televentures, which operates under the brand of ‘Connect Broadband’ in Punjab.

The investment shall include cost of ISP licence, cost of network deployment and investment in hot spots etc, the statement said.

The telecom operator said that its priority is to roll-out services starting with its existing GSM Mobility circles including Haryana, Gujarat, MP including Chhattisgarh, and then move to Metros.

The telcom operator is also mulling synergy with its D2H arm to provide content to its broadband subscribers.