India's Tata Communications plans US$2 billion investment for global expansion

NEW DELHI, India: India's Tata Communications Ltd. said Wednesday it plans to invest US$2 billion (€1.4 billion) over the next three years to fuel its global expansion plans.

"Tata Communications will continue to build on ... strong global investment, strategy and India and emerging markets strengths to grow globally in its targeted segments," N. Srinath, chief executive and managing director, said in a statement.

The company intends to focus on Internet-based services through Tata Global Network, which runs the company's undersea cable network.

The company, earlier known as Videsh Sanchar Nigam Ltd., has merged its different brands — VSNL, VSNL International, Teleglobe, Tata Indicom Enterprise Business Unit and Cipris — under Tata Communications, the statement said.

Tata Communications is laying additional undersea cables lines connecting Asia, Middle East and Africa to Europe to cater to corporate and retail broadband customers over the next five to eight years, the statement said.
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The company is a part of the conglomerate Tata Group, which has business interests that include steel, automotive, technology and beverages.

Shares of Tata Communications rose 3.5 percent in afternoon trade to 463.6 Indian rupees.