Acquisition of 60% shares of TCIL Saudi Co. Ltd. from NESMA Group

The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Telecommunications regarding acquisition of 60% shares of TCIL Saudi Co. Ltd. (TSCL) from NESMA Group to make it a 100% owned subsidiary company of TCIL (Telecommunications Consultants India Ltd.)

TCIL, a premier telecommunications consultancy and engineering company with a strong base in telecommunications and information technology, was incorporated in 1978 by Government of India. Of late, the company has diversified into Civil works.

TCIL is engaged in telecom projects in India and abroad, directly or through its joint venture companies/subsidiaries. The Company has worked in over 60 countries and has also contributed in providing strategic communication in the neighbouring countries like Nepal, Bangaldesh, Afghanistan, Bhutan and Sri Lanka. The company’s paid up capital now stands at Rs.43.20 crore. The standalone networth of the company is Rs.420.41 crore.

(PIB 4JUL12)

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