Debt-laden telecom company Vodafone Idea (VIL) has awarded contracts worth Rs 30,000 crore to Nokia, Ericsson and Samsung for the supply of 4G and 5G network equipment, the company said on Sunday. The contract is for three years.
The company had earlier announced a capital expenditure of $6.6 billion or Rs 55,000 crore over three years. This deal is the first step in this direction.
“Vodafone Idea has signed a major deal with Nokia, Ericsson and Samsung for supply of network equipment worth around $3.6 billion (around Rs 30,000 crore) over a period of three years,” the company said in a statement.
The capital expenditure programme is aimed at expanding the 4G coverage from 1.03 billion to 1.2 billion, launching 5G services in key markets and expanding capacity to keep up with data growth, the statement said.
Supplies under these new long-term contracts will begin in the coming quarter. The statement said that expanding 4G services (coverage) to 1.2 billion Indians is the company's top priority.
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