Chinese telecom gear maker ZTE earmarks Rs 600 crore for smart city projects in India

Chinese telecom gear maker ZTE earmarks Rs 600 crore for smart city projects in India

Chinese telecom gear maker ZTE's software arm, ZTEsoft, plans to invest Rs 600 crore in smart city projects in India over a period of 5 years.

"The new government outlook seems very positive about investments and it has shown great faith in Chinese counterparts. ZTEsoft is keen to work in smart city projects in India and ready to invest Rs 500 crore in next five years," ZTEsoft International CEO Ben told PTI.

Besides this, ZTEsoft would spend around Rs 100 crore on setting up a dedicated centre for smart city projects and brand building.

He said that ZTE has experience in such projects as it has worked in 38 smart city projects across the globe.

"The ZTEsoft has lost no time to respond to the cabinet approval of setting up 100 smart cities across the country with the budget outlay of Rs 48,000 crore. We are ready with plans and were only awaiting a framework from government," ZTEsoft India and South Asia Managing Director for Enterprise Business Prasoon Sharma said.

He said that ZTEsoft will have a dedicated team for smart city projects.

"We will additionally invest around Rs 40 crore to setup a dedicated centre of excellence to work with Indian government for various projects of smart cities," Sharma said.

He said that ZTEsoft is ready with approved funds that will enable it to implement technologies and other resources immediately after it signs any new project.

Source: Economic Times

SMART GRID Bulletin June 2017


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