Jan 19, 2000|
PowerGrid plans national long-distance operations
PowerGrid Corporation of India Ltd (PGCIL), the nodal transmission company in the power sector has plans of getting into national long distance telecom operations (NLDO) in collaboration with a private sector joint venture partner. It plans to become one of the operators in the NLDO sector.
The joint venture partner for the Rs 25 bn project could be either a domestic player or a foreign collaborator and would be selected through the international competitive bidding route. PGCIL plans to have a stake of about 26% in this venture. The other players who have shown interest in entering this sector are MTNL and VSNL. As per the new telecom policy'99 the long distance communications sector is opened to private competition from January 1, 2000.
This move of PGCIL is a diversification for it as it has no expertise in the telecom business, and its competitors will be VSNL and MTNL who have many years of experience in this line of business. On the other hand the advantage of entering into this sector is that PGCIL can leverage upon its vast distribution channel.
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