Videocon plans Rs 1k-cr investment in Punjab

Aiming at strengthening its telecom business, Videocon, the homegrown diversified business group, is looking forward to invest Rs 800-1,000 crore in Punjab. The investment activities would include capacity augmentation, deployment of additional 1,000 BTS sites, business portfolio diversification and Research & Development (R&D).

Apart from telecom, the group is also considering investment in other sectors including retail, electronic and home appliances, the roadmap for which would be laid in due course of time, informed R N Dhoot, managing director, Videocon.

Dhoot said this is the biggest investment by the group in telecom sector in any state till now. With the proposed investment in telecom, the company aims to take its subscriber base to 5 million from 2 million at present.

The investment, which would be made in the next three years, envisages creating infrastructure for spreading its telecom business.

“Punjab happens to be key market for us and we have been the fastest growing telecom service in the state. Our acquisition share for new subscribers in the state is 12-15 per cent,” said Dhoot.

Videocon, which earlier had telecom licence for operation in 22 circles, got its 21 permits cancelled following the Supreme Court order annulling 122 licenses granted post 2008, under the 2G spectrum.

Dhoot said Videocon is planning to set up their IT centre in Mohali (near Chandigarh). The group is also setting up 300-500 seated call centre in Jalndhar to provide support to 3 million customers in the region.

Among other plans include raising 1,200 base trans- receiver station (BTS) to boost their rural connectivity in the state.

Employment to 5,000 people directly as well as indirectly is envisaged through the expansion plans by the group in Punjab.

Videocon’s telecom business in Punjab is targeted to grow to 800 crore.

GSM Services brand ‘Videocon Mobile Services’ launched operations in Punjab two years ago, and has become the fastest growing telecom service in the state.