Financial Daily from THE HINDU group of publications
Wednesday, Nov 19, 2003
Financial Daily from THE HINDU group of publications Wednesday, Nov 19, 2003 |
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Info-Tech
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Broadband Data Access keen on sea cable venture Our Bureau
New Delhi , Nov.18 IN order to feed the capacity requirements for its mega business process outsourcing (BPO) venture in Bangalore, Data Access India Ltd has plans to participate in a new $100 million (about Rs 456.3 crore) undersea cable project between India and West Asia. This was disclosed by Mr Siddhartha Ray, MD, Data Access, on the sidelines of press conference to announce the launch of its international long distance services in Sri Lanka. "We will have captive requirement for our Rs 2,000-crore BPO infrastructure project and hence participation in the cable venture makes business sense. The agreement of partnership is already in place with a Saudi company and a Bahrain company, so there will be at least three companies in the project. "We will be a minority partner and the total investment for the India-Bahrain-Muscat cable venture is estimated at about $100 million (approximately Rs 456.3 crore). The shareholding of various partners is yet to be firmed up, although the basic project feasibility had already been done," he said. Earlier, the company announced the launch of Data Access Lanka, a joint venture between Pacific Netinvest and Golden Key Company Ltd, for its international long distance services in Sri Lanka.
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