ITI wins Rs 7,000-crore defence communication deal

[doe33]

Public sector firm ITI Limited today won a Rs 7,000-crore deal from the defence ministry to deploy and maintain phase four of the Army's modern communication network across India.

"Valued at over Rs 7,000 crore, we are very excited to take up ASCON phase IV. The project will provide telecom solution and infrastructure with a warranty period of two years and maintenance support of the network for eight years after the warranty," said ITI Chairman and Managing Director S Gopu.

The ASCON (Army Static Switched Communication Network) was established by ITI 25 years ago and has been maintaining the network till date. It is Army's telecom network backbone implemented in phases along the borders.

The phase four includes civil work for providing complete infrastructure at various sites and optical fibre network, besides supply, installation, commissioning and maintenance of telecom equipment including routers, satellite terminals and the like.

ITI currently has an order worth Rs 1,800 crore and is targeting deals, including the ASCON Phase IV project, worth Rs 10,000 crore in the next 3-4 years, the statement said.

The stock of ITI closed at Rs 122.2 on the BSE today, up 19.98 percent compared to its previous close.

http://www.moneycontrol.com/news/bu...crore-defence-communication-deal-2394283.html

 

[Chhatrapati]

ITI used to be one of the best companies in India. I use an ITI land line, and it's been working for 25 straight years with a little bit fuzz.

Hope the company revives.