Mukesh Ambani-led Reliance Jio has signed a memorandum of understanding (MoU) with the Kolkata Municipal Corporation for laying out 4G network in the city, an official said on Tuesday.
The agreement was signed between Tarun Jhunjhunwala, business development head and mentor (East) of Reliance Jio, and the Kolkata Municipal Corporation (KMC) secretary in the presence of mayor-in-charge (MIC) Atin Ghosh and Municipal Commissioner of the corporation.
Mr Ghosh told reporters that the company would lay 750 km of optical fibre cable within KMC's jurisdiction, the work for which would start after the Durga Puja.
He said the KMC would earn a one-time income of Rs 26 crore from the project.
He further said that KMC had decided to give speedy approval to the project after Mr Ambani discussed the issue with Chief Minister Mamata Banerjee during her business meeting in Mumbai recently.
Mr Jhunjhunwala said that the cost of the project would be Rs 4,000 crore and likely to be completed during the first quarter of 2014.
He said that Reliance Jio was also in the process of getting approvals for rolling out 4G services in 54 towns in West Bengal for which 3,000 km of optical fibre network would be laid.
Meanwhile, KMC would also sign an MoU with Airtel for 4G services roll-out in Kolkata. Airtel would invest Rs 6,000 crore and would lay 1,000 km of optical fibre network in the city, Mr Ghosh said.