Sistema Shyam to receive $200 mn loan for expansion plans
Published on Tue, Dec 21, 2010 at 08:36 | Updated at Tue, Dec 21, 2010 at 08:50 | Source :
CDMA mobile firm Sistema Shyam will receive a loan of USD 200 million or approximately Rs 900 crore, from Russia-based Gazprom Bank. The funds will be used for expanding its network in India. SSTL is a joint venture between India’s Shyam group and Russian conglomerate Sistema.
The CEO of SSTL, Vsevolod Rozanov, in an interview with CNBC-TV18 said, "At this stage, we are providing the widest mobile broadband network in the country with approximately 100 cities being covered by mobile broadband across various circles. We plan on increasing the number of cities covered, both in terms of news states coming into the picture and increasing the depth of the coverage in each particular state."
The CEO of SSTL, Vsevolod Rozanov, in an interview with CNBC-TV18 said, "At this stage, we are providing the widest mobile broadband network in the country with approximately 100 cities being covered by mobile broadband across various circles. We plan on increasing the number of cities covered, both in terms of news states coming into the picture and increasing the depth of the coverage in each particular state."
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