Debt-ridden Vodafone Idea on Sunday (September 22, 2024) said it has awarded contracts worth about ₹30,000 crore to Nokia, Ericsson and Samsung for supply of 4G and 5G network equipment for three years.
The deal is the first step towards the roll-out of the company’s three-year capex (capital expenditure) plan of about $6.6 billion or ₹55,000 crore announced earlier.
“Vodafone Idea has concluded a mega, about $3.6 billion [around ₹300 billion], deal with Nokia, Ericsson and Samsung for supply of network equipment over a period of three years. The capex programme is directed towards expanding the 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth,” the company said in a statement.
The supplies against these new long-term awards will start in the coming quarter.
The top priority for the company is to expand the 4G coverage to 1.2 billion Indians, the statement said.
Published - September 22, 2024 01:25 pm IST
