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For Mukesh Ambani, chairman of the Reliance Group of Industries, the launch of Reliance Infocomm is a dream come true.
Entirely his baby, Ambani worked for three years tand has already pumped in Rs 11,000 crore to lay out a 60,000 kilometer fibre optic network throughout the country. The entire Infocomm project will demand Rs 25,000 crores. Reliance plans to raise Rs 6000 crores through equity and the rest through debt financing.
If it succeeds, Reliance Infocomm will change the telecom landscape in India. It will push up India's telecom density, among the lowest in Asia.
Reliance hopes to sign up 1 million connections a month and show profits in the first year of operations. By 2005, it hopes to have 25 percent of the market share.