Reliance Comm bags Rs 10k cr deal from Etisalat DB

New Delhi, Jul 22: Reliance Communications has bagged a Rs 10,000 cr deal from Etisalat Dynamix Balwas.

With this 10 year deal Reliance Communication is expected to earn revenues of Rs 10,000 crore. The Reliance Anil Dhirubhai Ambani group will be providing tower infrastructure to the Etisalat Dynamix Balwas, which a telecom joint venture between the Mumbai-based Dynamix Balwas group and the UAE-based Etisalat group.

"As a new entrant in this dynamic market, this alliance provides us with key, strategic advantages that will ensure a robust, speed to market and cost-effective roll-out of services... Strategic alliances are integral part of our plans for growth and Etisalat Group will always be receptive to such alliances which help enhance the customer experience," said Mohammad Hassan Omran chairman of Etisalat.

The deal will be implemented through RCom's 95 per cent-owned subsidiary Reliance Telecom Infrastructure Ltd (RTIL). It is expected to cover around 50,000 towers the company owns and operates.

Etisalat DB initiated this deal so as to roll out its network without having to put up new towers.

OneIndia News