Tata Comm to invest $430 mn in APAC region
Tata Communications said it will invest $430 million in the Asia Pacific region, a move that will ensure scalability and global reach for the company.business Updated: Feb 13, 2009 08:10 IST
Tata Communications on Thursday said it will invest $430 million in the Asia Pacific region, a move that will ensure scalability and global reach for the company.
The investment would include the development of an Internet data centre in Singapore -- the Tata Communications Exchange -- and the completion of the main segment of its TGN-Intra Asia Cable System, Tata Communications said in a filing to the Bombay Stock Exchange.
The investment is part of Tata Comm's $2 billion expansion plan announced for three years and is aimed at meeting increasing outsourcing demands from global multinational corporations into emerging markets.
"The Asian market continues to be promising, even in the current environment. Business needs to capitalise on the opportunities this region provides, and investments in Asia are critical for the growth of global business," Tata Comm President and COO Vinod Kumar said in a statement.
Tata Communications Exchange would be ready for operation by early 2010 and would provide increased capacity for both domestic and international companies. Besides, the TGN-Intra Asia Cable System would facilitate increase in data and voice reliability by providing new route diversity for traffic generated throughout and into APAC.
Shares of the company were trading at Rs 430.50, down 2.63 per cent on the BSE in morning trade.