BSNL plans overseas foray, open to overseas acquisitions

State-run telecom giant Bharat Sanchar Nigam Ltd today said it is looking for acquiring companies in Africa and Middle East. "We are looking at overseas markets and open to acquisitions," BSNL Chairman and Managing Director Kuldeep Goyal said here today at the launch of BSNL data card for voice and data services. "We are looking at developing economies like Africa and Middle East countries," he said. Aiming to strengthen its overseas link infrastructure, BSNL has joined a seven-company consortium for Europe India Gateway (EIG) for an undersea cable Atlantic link in which the company will invest about $ 50 mn. Apart from this, the equal share JV between BSNL and MTNL-promoted Millenium Telecom will also lay two undersea cable links - one for the east and the other for the west. The east cable will be from India to Singapore and another to Europe. Goyal said the total proposed investment is $300 mn, but now the cost would be lower and it would take about three years to complete the project.