September 8, 2012
Mahanagar Telephone Nigam Ltd (MTNL) is mulling an investment of Rs 300 crore (USD 53 million) in the present fiscal in order to develop its GSM network in Delhi and Mumbai, according to media reports. The firm has floated a tender to pull in bidders for providing GSM equipment. The main aim of the company is to develop its network and enhance broadband penetration.
MTNL has incurred losses in the last three years and will be renting out its reserve land to pull in Rs. 100 crore (USD 18 million). The company has plans to set up 250 towers in Mumbai and Delhi.