Zamil in new India telecom infrastructure JV
Riyadh, November 9, 2008
Zamil Industrial Investment Company has announced the launch of a new joint venture with New Delhi Tele-Towers Private Limited, a India-based provider of infrastructure solutions to telecom operators.
The new venture, named Zamil New Delhi Infrastructure, has been set up with an authorized capital of SR75 million ($20 million) in which Zamil Industrial will hold a 51 per cent equity share.
The new company will operate from New Delhi and focus on the supply of Telecom towers, accompanying shelters fitted with the appropriate sandwich panels, customized air conditioning equipment and power interface units.
It will also supply a range of related support products, along with comprehensive installation and maintenance services.
The joint venture agreement creating the new company was completed after details were finalized on October 27, said a top company official.
Abdulla Al Zamil, COO, Zamil Industrial, commenting on the venture, stated, 'We are extremely pleased to partner with New Delhi Tele-Towers as we embark on this new journey.'
'It is exciting to become an active participant in the telecom business in India, as the possibilities for growth and innovation are endless.'
'At Zamil Industrial, we are confident that our extensive resources and capacity for innovation and creativity will provide a solid, supportive platform from which to develop efficient, cost effective and top quality solutions for telecom operators.'
The joint venture combines the resources of New Delhi Tele-Towers Private with the production capacity of the existing Zamil Steel factory located in Pune, India, as well as the Zamil Industrial affiliated air conditioning facility – Advantec Coils – in Himachal Pradesh in Northern India and various Zamil Industrial facilities in Saudi Arabia.
It marks the first Zamil Industrial offering of all its major product lines in the form of an entirely new business entity.
Ramesh Awtaney, CEO of New Delhi Tele-Towers, said “We are pleased to join with Zamil Industrial in providing products and services that are in such great demand within this high growth, high potential industry.'
'As telecom operators cope with astronomical growth, they are searching for the right businesses to take on the responsibility of building and servicing passive infrastructures – leaving operators free to focus on network development and providing innovative solutions to their customer base,' he noted.
'We believe that Zamil New Delhi Infrastructure is a ‘right place – right time’ solution to an urgent industry need,' he added.
Expectations for success are bolstered by projections in force for Zamil New Delhi Infrastructure.
The customer base is growing at a rate of nine million subscribers per month, according to Telecom Regulatory Authority of India (TRAI) reports.
At full capacity, the new company is projected to attain annual revenues exceeding $300 million by the fifth year of operation.-TradeArabia News Service