Friday, May 16, 2008
RCom gets $750 m loan from Chinese bank
Reliance Communications (RCom) has received a $750-million loan from
China Development Bank, for rolling out its GSM services in the
country. This would be amongst the biggest loan from China to an
Indian company.
When contacted, RCom officials confirmed the development.
10-year loan
They added that all regulatory approvals have been received for this.
The loan is for a 10-year period.
RCom has already given contracts to Alcatel Lucent for rolling out GSM
network across the country.
Alcatel tie-up
Reliance Communications and Alcatel-Lucent have joined hands to float
a joint venture company that would provide managed network services.
The join venture would kick-start with a contract close to $500
million and initially focus on providing managed services for RCom�s
wireless networks in 12 circles in North and western regions of the
country.
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