Escorts will sell their interest in Escotel.

Chandigarh: The escorts group is in the process of selling holdings in escorts telecommunications limited to a foreign buyer after laying the groundwork for the introduction of cellular services in punjab, himachal pradesh, rajasthan, and uttar pradesh (east). The business has been looking for a joint venture partner ever since escorts formed the subsidiary last August for the introduction of cellular services in the aforementioned circles, which it won after paying a license cost of Rs 230 crore following the bidding for the fourth operators’ berth. Roll-out plans had suffered a setback, according to Manoj Kohli, executive director and ceo of escotel Mobile Communications, who spoke to the Times News Network. however we have finally made progress in finding a good spouse. We anticipate finishing the legal paperwork in a few weeks, but Kohli would not specify how much of the company would be transferred to foreign ownership. In addition to haryana, Kerala, and Up (west), escotel is present. By partnering with the international player, plans to launch its punjab network by September would be made easier. Kohli asserted that the business has already put in place more than 100 cell sites throughout the state. We are making rapid progress while the circle’s infrastructure is being built. Prior to the launch, 200 locations are intended to be operational, he noted. The business is thinking about forming a profitable collaboration with spice communications in addition to agreeing to share infrastructure with bharti mobile limited. Funds will be infused by the foreign partner to carve out growth trajectories in the new circles. Kohli stated that over the course of the next three years, the joint venture company would invest more than Rs 400 crore in the state’s gsm-1800 network. The department of telecommunications (dot) received more than Rs 150 crore from escorts telecoms in exchange for the Punjab license.