ITI Limited Signs Agreement with BSNL for NER-II Package-15 of BharatNet Project worth Rs. 1901 Crores

ITI Limited, the country's first PSU post-independence and a premier telecom manufacturing company recently signed an Agreement as Project Implementing Agency (PIA) with BSNL on behalf of USOF for NERII Package-15 of BharatNet Phase-3 Project. The total value of this contract is Rs. 1901 Crores including capital expenditure (capex) and operating expenditure (opex). The order value comprises Rs. 1168 Cr as capex, Rs 700.84 Cr as opex for the newly constructed network, and Rs. 32.21 Cr for opex for the maintenance of existing network.

ITI Limited also signed an Agreement with BSNL for Package No. 8 in the state of Himachal Pradesh, and for Package No. 9 in the state of West Bengal, & Andaman and Nicobar Islands with a consolidated order value of Rs. 5055 Crores. With this, ITI Limited has signed Agreements with BSNL for three Packages (8,9, & 15) taking the total order value to Rs. 6956 Crores.

In November 2024, ITI Limited with its consortium partner had emerged as the Lowest Bidder (L1) for Package No. 15 of BharatNet Phase-3 Project comprising Arunachal Pradesh, Nagaland and Manipur states.

The BharatNet Phase-3 Project is divided into 16 Packages spread across all states & union territories. BSNL had invited tenders, for Design, Supply, Construction, Installation, Upgradation, Operation and Maintenance of Middle Mile Network of BharatNet Phase-3 Project on a Design Build Operate and Maintain (DBOM) Model.

Commenting on this new development, Mr. Rajesh Rai, Chairman and Managing Director, ITI Limited, said, - "We are very happy to sign the agreement with BSNL on behalf of USOF for execution of yet another Package of the prestigious BharatNet Phase-3 Project. This is indeed a very challenging project and I am grateful to BSNL for reposing their faith yet again on ITI. My team is all set and we will give our best to complete this project to the complete satisfaction of our client."

Mr. Rai added - "My heart swells with pride when I think of the projects ITI Limited is currently executing across the length and breadth of India where we are contributing our part for the progress of our country. ITI Limited has accumulated vast experience in executing optical fiber network (OFN) across India for defence and BharatNet projects and we are raring to execute with dedication."

Shares of ITI Limited was last trading in BSE at Rs. 320.40 as compared to the previous close of Rs. 320.85. The total number of shares traded during the day was 62466 in over 1248 trades.

The stock hit an intraday high of Rs. 325.90 and intraday low of 319.40. The net turnover during the day was Rs. 20146625.00.

Source : Equity Bulls

Keywords

ITI INE248A01017 PIA Agreement BSNL