Indian conglomerate Tata Group will invest more than $230-million (R1,5-billion) in South Africa over the next three years to develop and operate telecommunication services, a news report said on Wednesday.
Tata’s telecommunications unit, Videsh Sanchar Nigam, plans to invest in the country’s long-distance and wireless service, the Business Standard newspaper quoted company officials as saying.
The company says the services will be operated through South Africa’s second network operator, beginning with Johannesburg.
The Tata Group already has set up a manufacturing base in South Africa for buses and is planning an assembling unit for its small cars as well.
The Tata Group comprises 93 operating companies in seven business sectors — information systems and communications, engineering, materials, services, energy, consumer products and chemicals. It is one of India’s largest business conglomerates with revenues in 2004/05 totalling $17,8-billion. — Sapa-AP