NIB lends for 3G rollout in India
(Thomson Reuters ONE) -
The Nordic Investment Bank (NIB) and the Indian mobile telecommunications
operator Aircel Limited have signed a loan agreement for financing the rollout
of 3G mobile communications networks in India.
The NIB loan totals USD 100 million (EUR 72 million) and has a 10-year maturity.
The telecom operator Aircel Limited will use the funds to finance its new 3G and
broadband wireless access project in India. Within eight years, the company
expects to treble its subscriber base to 156 million and increase its market
share from 9% to 13%.
In rolling out the state-of-the-art technologies in the world's fastest growing
mobile telecom market, Aircel is cooperating with Ericsson and Nokia Siemens
Networks. Both Nordic producers have established large, globally integrated R&D
centres in India for developing innovative solutions for both technology and
value added services.
With a population of approximately 700 million subscribers, India is the world's
second largest mobile market. The country's mobile subscriber base continues to
be the fastest growing in the world. In 2009 alone, India added over 178 million
subscribers.
The Nordic Investment Bank (NIB) is the common international financial
institution of the eight Nordic and Baltic countries. NIB provides long-term
financing to the energy, environmental, transport, logistics and communications,
and innovation sectors for projects that strengthen competitiveness and enhance
the environment. NIB has the highest possible credit rating, AAA/aaa, with the
leading rating agencies Standard & Poor's and Moody's.
For further information, please contact
Ms Tarja Kylänpää, Senior Director Lending, at +358 10 618 0237,
tarja.kylanpaa(at)nib.int
Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,
dimitrijs.alehins(at)nib.int
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NIB NORDIC INVESTMENT BANK via Thomson Reuters ONE
[HUG#1502530]
Unternehmensinformation / Kurzprofil:
Datum: 01.04.2011 - 09:15 Uhr
Sprache: Deutsch
News-ID 53065
Anzahl Zeichen: 2584
contact information:
Town:
Helsinki
Kategorie:
Business News
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"NIB lends for 3G rollout in India"
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