Mon Sep 23 03:50:43 UTC 2024: ## Vodafone Idea Invests $3.6 Billion in Network Upgrade, Signaling 5G Push
**Mumbai, India -** Telecommunications giant Vodafone Idea (Vi) has announced a significant $3.6 billion investment in network equipment, signaling its commitment to expanding 4G coverage and launching 5G services. The three-year deal with Nokia, Ericsson, and Samsung represents Vi’s largest capital expenditure (capex) investment to date.
This investment is the first step in Vi’s broader $6.6 billion capex plan aimed at expanding its 4G coverage to 1.2 billion Indians, launching 5G in key markets, and increasing capacity to meet growing data demand.
“We are committed to invest in emerging network technologies to provide a best-in-class experience to our customers,” said Akshaya Moondra, CEO of Vi. “We have kickstarted the investment cycle and are on our journey of VIL 2.0.”
The investment follows Vi’s recent equity raise of Rs 24,000 crore and spectrum acquisition of Rs 3,500 crore. The company has already seen positive results from its “quick win” capex strategy, with a 15% boost in capacity and 16 million increase in population coverage by the end of September 2024.
Vi is currently funding the capex through its recent equity raise and is in discussions with existing and new lenders to secure an additional Rs 25,000 crore in funded facilities and Rs 10,000 crore in non-fund-based facilities.
This investment marks a significant shift for Vi, which has been struggling in recent years. The move indicates a renewed commitment to competing in the Indian telecom market, particularly as 5G technology gains traction.
First Piper 