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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (10142)	12/20/1999 3:44:00 PM
From: Mohan Marette	Read Replies (1) of 12475

WorldTel to develop internet projects with states Posted December 20, 1999 (IndiaToday) New Delhi, December 20: WorldTel has signed MoUs with seven Indian states for a USD 1.2 billion project to develop high bandwidth fibre optics coupled with internet projects, Chief Executive Officer Sam Pitroda said today. The respective state government shall fund 26 per cent; the remaining 74 per cent will be split between Reliance Industries and WorldTel. The three shareholders of WorldTel - GE Capital, American Investment Group and Intel - will pump in the money on behalf of WorldTel. WorldTel will have the projects in Gujarat, West Bengal, Maharashtra, Tamil Nadu, Kerala, Karnataka and Andhra Pradesh. 'Each state would require 100 million dollars for these projects.

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