Aircel Announces $5 Billion Investment Plan

India's Aircel has announced plans to double its subscriber base and invest US$5 billion in its network over the next three to five years. The firm, a majority owned subsidary of Malaysia's Maxis, will spend at least US$1 billion during 2009 and expects to end the year with 32 million customers.

At launch of the network in Hyderabad, chief operating officer Gurdeep Singhsaid that it will be expanding its services to Delhi NCR eastern and western parts of Uttar Pradesh and Mumbai within the month.

"By April-end, we will launch our services in rest of Maharashtra, taking the total number of circles to 18," chief operating officer Gurdeep Singh said, adding that "Hyderabad is the 13th circle where we have launched our services and with this we have completed our southern footprint,"

"We currently have a national subscriber base of 17 million, with about 10 million predominantly in Tamil Nadu and the rest split between the 11 states including the North East and Assam.

The Company has currently gained a momentum in the space of telecom in India post the allocation of additional spectrum by the Department of Telecom, Govt. of India for 13 new circles across India. These include Delhi (Metro), Mumbai (Metro), Andhra Pradesh, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra & Goa, Rajasthan, Punjab, UP (West) and UP (East).

The Aircel Group is a joint venture between Maxis Communications and India's Apollo Hospital Enterprise, with Maxis Communications holding a majority stake of 74%.

Posted to the site on 13th March 2009