GTL Infrastructure signs MoU with IDFC Project Equity
CHENNAI: GTL Infrastructure Ltd has announced that it has signed an MoU with IDFC Project Equity Company Ltd to form a special purpose vehicle (SPV) that will address telecom tower infrastructure acquisition opportunities.
The MoU will allow GTL Infra to pursue acquisitions and strategic investments in telecom tower infrastructure companies being hived off by telecom operators and other independent tower companies.
Chairman Manoj Tirodkar said: “There are several opportunities available and the SPV with IDFC Project Equity will help us to pursue inorganic growth plans.”
As part of its organic growth plans, GTL Infra is in the process of rolling out a pan-India network of over 25,000 towers with an estimated investment of Rs 8,000 crore. – Our Bureau