ITI Limited Receives Work Order From Government Of Tamil Nadu Worth Rs. 432.97 Crores
The large multi-technology public sector ITI Limited has received a work order from TANFINET (Tamil Nadu Fibrenet Corporation Limited) (a government company of Tamil Nadu) regarding BharatNet Phase-II in Tamil Nadu for package D. contract is Rs. 432.97 crore and to be implemented within 360 days, followed by three years for operation and maintenance from the date of commissioning of the project, in accordance with the delivery schedules.
The scope of work includes planning, design, supply, installation, commissioning, testing, end-to-end integration, operation and maintenance of the fiber optic network (OFN) and electronics for broadband connectivity under BharatNet Phase-II in Tamil Nadu for Package D. Under this package, ITI Limited will cover 10 districts / 109 blocks / 3103 Gram Panchayats / 845 full-length income villages and the breadth of the state of Tamil Nadu, providing a bandwidth service of at least 1 Gbit / s.
The package also includes radio connectivity for Gram Panchayats that cannot be connected by fiber optic, the implementation of horizontal connectivity to government premises, schools and primary health centers (PHC). About 15,000 km of fiber optic cables will be laid, including underground and overhead fibers to connect Gram Panchayats to blocks, district centers and state headquarters.
ITI Limited has extensive experience of performing OFN works in India and already successfully executes OFN works worth around Rs. 4500 Crores in Maharashtra and Gujarat states. ITI Limited is the Project Implementation Agency (AIP) for MahaNet-I (BharatNet Phase II) in Maharashtra. In Gujarat, ITI Limited is executing two BharatNet Phase II packages, for Gujarat Fiber Grid Network Ltd (GFGNL).
Speaking on the occasion, Mr. Rakesh Mohan Agarwal, President and CEO of ITI Limited, said: “We are proud to be a partner of the government of Tamil Nadu which aims to empower rural areas of Tamil Nadu and to create jobs, opportunities and growth. High speed internet will be a big boon for students in rural areas and will help solve problems such as the digital divide among the rural population, ”added Mr. Agarwal.
Emphasizing ITI’s contribution to the BharatNet project, Mr. Agarwal said: “ITI has implemented phase I of BharatNet in several states and the TANFINET project gives us the opportunity to further increase our contribution. . We are focused on assisting the Indian government in its initiatives such as Make-in India, Digital-India and Smart City missions, ”Mr. Agarwal added.
The BharatNet project aims to provide high-speed connectivity to the 250,000 Gram Panchayats nationwide with the aim of providing high-speed connectivity to all villages in the country.
Shares of ITI Limited were last trading in the BSE at Rs. 113.05 from the previous close of Rs. 116.50. The total number of shares traded during the day was 29,207 in over 933 trades.
The share hit an intraday high of Rs. 116.85 and an intraday low of 112.25. The net turnover during the day was Rs. 3,337,926.00.