Spice to invest Rs 1,000 cr each in K'taka, Patiala

Bangalore, May 5 (UNI) Spice Communications Private Limited will be investing Rs 1,000 Crore each in Karnataka and Patiala by 2007 for infrastructure development, Company Chairman Dr B K Modi said today.

Talking to newspersons here, he said the investment would be mainly in the areas of training, building and research and development wings.

Stating that the company would totally revamped, Mr Modi said it would focus more on entertainment, communication and software, besides establishing retail stores. It proposed to set up a mobile TV station in New Delhi within the next three months.

He informed that Hollywood movies were likely to be available on Spice mobile from 2007, while Hindi movies would be available from this year.

He said Spice's recently-acquired Telecom Malaysia was soon likely to come out with initial public offering. However, a final decision would be taken at the Board Meeting scheduled for May 13.

UNI MSP RG HVB1635