Tata-owned Videsh Sanchar Nigam (VSNL)
will invest $500 million in 2007-08 in expanding operations and is looking at
acquiring companies providing enterprise data solutions.
The capital expenditure will be used
to upgrade existing cable systems and lay new ones, for upgrading data centres
across the country and for rolling out WiMax services.
VSNL is laying two new cables - one
between India and Europe and the other intra-Asia in partnership with leading
carriers in the respective regions. The capex for the two is $600 million spread
over few years.
Also See:
VSNL to invest
Rs.1,350 crore on India-Europe undersea cable (24-Apr-06)