TCIL to acquire 60 per cent NESMA Group stake in TCIL Saudi Co
04 Jul 2012
Telecommunications Consultants India Ltd (TCIL), the telecom consultancy arm of the Department of Telecommunications (DoT) is planning to acquire a majority 60-per cent stake of the NESMA Group in its Saudi joint venture TCIL Saudi Co Ltd, to make it a 100 per cent subsidiary of TCIL.
The Cabinet Committee on Economic Affairs (CCEA) today approved the DoT's proposal for acquiring 60 per cent shares of TCIL Saudi Co Ltd (TSCL) from NESMA Group of Saudi Arabia.
The acquisition will be financed by internal resources of TCIL, an official release said today.
TCIL, a premier telecommunications consultancy and engineering company with a strong base in telecommunications and information technology, was incorporated in 1978 by the government of India. Of late, the company has diversified into civil works.
TCIL is engaged in telecom projects in India and abroad, directly or through its joint venture companies and subsidiaries. It has a presence in over 60 countries and has also contributed in providing strategic communication in neighbouring countries like Nepal, Bangaldesh, Afghanistan, Bhutan and Sri Lanka.
The company has a paid-up capital of Rs43.20 crore and a standalone net worth of about Rs420.41 crore.
TCIL was set up in 1978 for providing telecom expertise in all fields of telecommunication - civil and IT - to developing countries around the world.
With core competence in the fields of switching, transmission systems, cellular services, rural telecommunication, optical fibre-based backbone transmission systems, IT and networking solutions, application software, e-governance, 3G network and WIMAX technology, TCIL is also engaged in civil construction projects.