Vodafone Idea awards Rs 30k-cr contracts for 4G, 5G gear supply for 3 years

Debt-ridden Vodafone Idea on Sunday said it has awarded contracts worth about Rs 30,000 crore to Nokia, Ericsson and Samsung for supply of 4G and 5G network equipment for three years.

The deal is the first step towards the roll-out of the company's three-year capex (capital expenditure) plan of about USD 6.6 billion or Rs 55,000 crore announced earlier.

"Vodafone Idea has concluded a mega, about USD 3.6 billion (around Rs 300 billion), deal with Nokia, Ericsson and Samsung for supply of network equipment over a period of three years. The capex programme is directed towards expanding the 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth," the company said in a statement.

The supplies against these new long-term awards will start in the coming quarter.

The top priority for the company is to expand the 4G coverage to 1.2 billion Indians, the statement said.