RCom gets loan from China for GSM service

New Delhi: Reliance Communications (RCom) has received a $750-million loan from China Development Bank, for rolling out its GSM services in the country. This would be amongst the biggest loan from China to an Indian company.

When contacted, RCom officials confirmed the development.

10-year loan:

They added that all regulatory approvals have been received for this. The loan is for a 10-year period.

RCom has already given contracts to Alcatel Lucent for rolling out GSM network across the country.

Alcatel tie-up:

Reliance Communications and Alcatel-Lucent have joined hands to float a joint venture company that would provide managed network services.

The join venture would kick-start with a contract close to $500 million and initially focus on providing managed services for RCom’s wireless networks in 12 circles in North and western regions of the country.