New Delhi : Vodafone Idea, burdened by debt, announced on Sunday that it has granted contracts totaling approximately Rs 30,000 crore to Nokia, Ericsson, and Samsung for the provision of 4G and 5G network equipment over a three-year period. The agreement marks the initial phase of the firm's previously announced three-year capex plan worth around USD 6.6 billion or Rs 55,000 crore.
Vodafone Idea has finalized a huge agreement worth approximately USD 3.6 billion (equivalent to around Rs 300 billion) with Nokia, Ericsson, and Samsung for the provision of network equipment over a span of three years. The company stated that the capex program aims to increase 4G coverage from 1.03 billion to 1.2 billion, introduce 5G in important markets, and expand capacity to accommodate data growth. The distribution of resources for these new extended grants will commence in the upcoming quarter. The statement emphasized that the company's main focus is to increase 4G coverage to reach 1.2 billion Indians.
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