Loop to invest USD75 million in Mumbai expansion

3 Sep 2009

According to India’s Economic Times, Loop Mobile (formerly BPL Mobile) has set aside USD75 million for expansion of its operations in Mumbai. The cellco has said it hopes to use the funds to assist in its aim of doubling its subscriber base in the circle by the end of this fiscal year. Commenting on the plans, Sandip Basu, Loop’s CEO, said: ‘We have an aggressive plan to invest around USD50-75-million in Mumbai this fiscal. The investment would be to increase our network.’ At present, the mobile operator has 1,600 mobile towers across the circle, and it plans to increase this, although it has not announced a target number for such expansion plans. According to TeleGeography’s GlobalComms database, Loop had 2.3 million subscribers at the end of June 2009 in Mumbai, making it the fourth largest operator by subscribers in the circle, behind Vodafone Essar, Bharti Airtel and Mahanagar Telephone Nigam Ltd (MTNL).

India, Loop Mobile