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PRESS
RELEASE
RailTel Corporation of India
Dated
9 July 2003
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A
Memorandum of Understanding (MOU) has been signed today between
RailTel Corporation of India Limited and Bharat Sanchar Nigam
Limited in the presence of Shri Nitish Kumar, hon’ble Minister
of Railways, and Shri Arun Shourie, hon’ble Minister for
Disinvestment, Communication and Information Technology on various
areas of mutual co-operation. |
| MOU
provides for sharing of bandwidth and other telecom
infrastructure, improving coverage of BSNL’s Cell One mobile
phone services to provide continuous coverage along the Railway
track by utilizing RailTel’s infrastructure and extension of
telecom facility to rural areas using RailTel’s OFC network.
In addition, BSNL will offer priority to RailTel for last
mile and interconnect for its
various telecom services and RailTel will also be able to
take BSNL’s technical and financial experts on deputation. |
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The
MOU was signed by Shri A.K. Chopra, Managing Director on behalf of
RailTel and Shri Prithipal Singh, chairman-cum-Managing Director
on behalf of BSNL.
While
forming RailTel Corporation of India Limited, a PSU under Ministry
of Railways, the Government of India also approved induction of
Joint Venture (JV) partners keeping Railways’ equity as 51%
minimum and directed that initially, PSUs of DOT and PSUs of
Ministry of Railways may be considered for induction as Joint
Venture partners.
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Based
on above, it has been deliberated that MTNL will consider equity
participation and BSNL will join hands with RailTel for utilizing
their synergies infrastructure and services for bringing telecom
revolution to the masses.
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