TCIL gets nod to buy 60% stake in TCIL Saudi

Telecom Lead India: The government has given regulatory
nod to the state-owned telecom consultancy firm TCIL to acquire its
partner’s 60 percent stake in TCIL Saudi Co (TSCL) for Rs 2.8 crore.

Telecommunications Consultants India Ltd (TCIL) is the
telecom consultancy arm of the Department of Telecommunications (DoT).

The Cabinet Committee on Economic Affairs (CCEA) has
approved the proposal of the Department of Telecommunications (DoT) regarding
acquisition of 60 percent shares of TSCL from NESMA
Group to make it a 100 percent subsidiary company of TCIL by investing
from TCIL’s internal resources, informed Home Minister P Chidamabarm.

The acquisition will be financed by internal resources of
TCIL, according to an official release.

TCIL has core competence in the fields of switching,
transmission systems, cellular services, rural telecommunication, optical
fibre-based backbone transmission systems, IT and networking solutions,
application software, e-governance, 3G network and WIMAX technology.

The company is also engaged in civil construction
projects. Incorporated in 1978, TCIL is engaged in telecom projects in India
and abroad.

The company has worked in over 60 countries and has also
contributed in providing strategic communication in the neighbouring countries
like Nepal, Bangaldesh, Afghanistan, Bhutan and Sri Lanka.

TCIL’s paid up capital now stands at Rs 43.20 crore. The standalone networth of
the company is Rs 420.41 crore.

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