The Essar Group is planning to set up
a multi-branded telecom retail chain with an investment of Rs.1,500 crore within
a period of five years. The investment would be made for the telecom operations
of Hutchison Essar.
The initial plan of the company is to
invest Rs.500 crore (Phase I), spread over a year, and another Rs.1,000 crore
over the next four years.
The communication hub will offer
convergence of all telecom products and services such as mobile based gaming and
entertainment, repairs and refurbishments. The group is also scouting an
international partner to collaborate for its retail venture and Technopark is
likely to prepare the feasibility report, it is learnt.
Also See:
Hutch
to invest Rs.6,000 crore in Indian operations (10-Mar-06)