Indian telecom network vendor ITI has bagged two purchase orders from mobile service provider BSNL for Rs 2,984 crore.
The orders are part of Network For Spectrum (NFS) project for setting up of optical fiber network in India.
The government-owned company in a statement said ITI is the only central public sector undertaking to bag two packages out of seven packages for NFS tender against stiff competition from multiple players.
These are the biggest orders ITI has ever got by competing in an open tender, said a press release from the Bangalore-based ITI.
Incidentally, these are the first major purchase orders received after the approval of the revival package of ITI by Cabinet Committee on Economic Affairs and will open the doors for turning around the company.