Power Grid to invite bids to lease out telecom towers

NEW DELHI: Central transmission utility Power Grid on Wednesday said that as part of its diversification plan it would invite bids for leasing out telecom towers in the next 3-4 months.

"We would lease out our telecom towers. We would invite bids in the next 3-4 months and after their evaluation we would be able to lease out the telecom towers by the end of this fiscal," Power Grid CMD SK Chaturvedi told reporters here.

"We would allow telecom companies to use our towers. One tower can be used by two telecom companies," he added.

The company estimates a Rs 350-400 crore revenue potential from the telecom business in the next 4-5 years.

"About Rs 350-400 crore is the revenue potential from the telecom business in 4-5 years," Chaturvedi said.