Thursday, February 18, 2016

@VodafoneGroup to invest Rs 6000 cr. in #Maharashtra , even after getting Rs.14,300 crore in tax due notice

Notwithstanding Rs.14,300 crore in tax notice for capital gains from IT department for Vodafone International Holdings BV’s $11 billion acquisition of Hutchison Whampoa’s India telecom business in 2007  country's second largest telecom operator Vodafone has  said it will invest Rs 6,000 crore for capacity augmentation and new business initiatives in the state of Maharashtra.Rs 6,000 crore will be used to upgrade its high end technology centre in Pune, setting up a Tier-4 data centre in Airoli, near Mumbai and  setting-up of a payment bank with headquarter in Mumbai.“At Vodafone, we are enthused with the Government’s vision of Digital India and Make in India and are keen to be a partner in its delivery. Vodafone India serves over 194 million citizens, of which almost 100 million are from rural areas. We remain deeply invested in and committed to Maharashtra and are pleased to announce our enhanced investments in the state,” said Sunil Sood, Vodafone India's Managing Director & CEO.

"Vodafone is India's largest FDI investor headquartered out of Mumbai. It has played a pivotal role in transforming the telecom landscape of our country. This new commitment is an endorsement of Maharashtra's stature and potential to fulfil the Make in India and Digital India vision. My government will extend all possible cooperation to Vodafone to ensure that the planned projects and initiatives are executed in time," The Chief Minister of Maharashtra, Shri Devendra Fadnavis, said while welcoming Vodafone's commitment to further invest in Maharashtra