RelCom to invest $1.5 bn for undersea cable
Anil Ambani group firm Reliance Communi-cations will invest Rs 7,000 crore to lay a 1.15 lakh km-long under-sea cable covering 60 countries for providing bandwidth. The three-year project, named Flag Next Generation Network, will be completed by December 2009 and would be the world's largest Internet Protocol network over submarine cable systems, RCom chief Anil Ambani said in Mumbai. The project is to be funded through internal accruals and debt. The company could has already secured assurance from various financial institutions.
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