How to invest in the Indian internet, 2018: From Facebook to Netflix to Amazon to Uber
Posted On July 24, 2021
The Blackstone Infrastructure and Technology Group (BITG) has announced plans to build a 3G network in India.
The project, which is slated to cost around Rs.1,000 crore, will be the first to be funded by the government, the company said in a statement.
BITG is also the first publicly traded Indian IT company to raise money through its equity sale.
Blackstone has said it plans to use the money to invest “in the Indian Internet infrastructure sector.”
The $1.2-billion network is being built by the Indian telecom and Internet infrastructure group of the Blackstone Group, the largest private company in the country, the firm said.
Blackwater, which acquired the company from the Iraqi government in 2009, is also an investor in the project.
The consortium will work with Tata Consultancy Services Ltd.
to deliver the network.
The infrastructure project is being financed by a $6.5-billion loan secured by the Tata group.