Aircel, a JV between Malaysian cellco Maxis Communications and Apollo Hospital Enterprise of India, has signed a US$100m 10-year loan agreement with the Nordic Investment Bank (NIB) to roll out 3G services in India.
According to an NIB statement, “Within…
Aircel, a JV between Malaysian cellco Maxis Communications and Apollo Hospital Enterprise of India, has signed a US$100m 10-year loan agreement with the Nordic Investment Bank (NIB) to roll out 3G services in India.
According to an NIB statement, “Within eight years, the company expects to treble its subscriber base to 156 million and increase its market share from 9% to 13%.”
Aircel is working with equipment vendors Ericsson and Nokia Siemens Networks (NSN) to deploy its services in the country.
Early this year, Aircel reportedly said it was looking to launch commercially 4G operations in eight circles by December 2011 or January 2012.
Its CTO Mallikarjuna Rao was quoted explaining that the company would launch its 3G services within the next two months, depending on some government clearances.
The Nordic Investment Bank is owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden.
