Sistema Shyam to invest $1 bn in India


Panaji: Sistema Shyam Teleservices, promoter of the MTS mobile service brand, will invest around $1 billion in its India operations over the next one year, a company official said on June 2.

“We have already invested $1.5 billion in India and will be investing $2.5 billion in all within the next one year,” V. K. Cherian, director, corporate communications, told reporters in Panaji. 

Sistema Shyam, a joint venture between Russia-based Sistema and India’s Shyam group, has a license to provide mobile telephony services in 22 circles across the country. Cherian, who was here to announce the launch of MTS telecom services in Goa, said the company would soon cover all the major telecom circles.