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RCom To Invest Rs.16,000 Crore On FY08 Network Expansion. More Buys In Sight.

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Anil Ambani-led Reliance Communications plans to invest Rs 16,000 crore on network expansion in fiscal year 2008. [via] The company plans to cover 23,000 towns, or every single Indian habitation with a population of over 1,000 persons. Its network is also expected to include almost 100 per cent of all rail routes, all national highways, and 84 per cent of all state highways.
RCom is also looking at inorganic growth route across the world, Ambani said. This probably means RCom is scouting around for more buys to expand globally. The company, which has more than 1 million retail customers in the United States, has launched virtual international calling and voice content services in the US, Canada, UK, Australia and New Zealand. Earlier this week, Reliance Communications acquired US based Yipes Enterprises Services in a Rs. 1200 crore all cash deal.