(LiveMint)
Reliance Industries (RIL) is likely to invest Rs60,000 crore into its telecom unit this fiscal year as the company seeks to speed up the roll out of broadband services and expand its wireless network, two people aware of the matter said. In addition to this, unit Reliance Jio Infocomm Ltd may also borrow as much as Rs1 trillion, the people said, requesting anonymity.
“This is being done as Jio wants to fast-track its plan to scale up its capacity and coverage which would require further infusion of funds,” said one of the two people. Spokespeople for RIL and Jio did not immediately respond to queries. The firm will continue to invest in laying fibre even as it has already built the largest optical fibre network in the country, Anshuman Thakur, head of strategy and planning at Jio, said in an interview on 27 April, after Reliance Industries announced its earnings.
