PGCIL to hive off telecom business
October 15, 2007
Power Grid Corporation of India Limited (PGCIL) is planning to hive off its telecom business into a wholly owned subsidiary. Its telecom business is expected to break even in 2007-08, two years ahead of schedule, with a turnover of Rs 1-1.2 billion. PGCIL is also planning a foray into the mobile tower business in order to utilise its optic fibre network.
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