Enron eyes Net in India as power loses steam

India’s inability to enact quick reforms in the power sector and the explosive growth of the internet in the country is driving US energy giant Enron into Web-related areas for future growth.

by exchange4media Staff
Published - Nov 18, 2000 9:33 AM Updated: Aug 8, 2019 11:12 AM
Enron eyes Net in India as power loses steam

The firm, which entered India's power sector in the early 1990s with one of the largest investments in the country by a foreign firm, is now looking to wire itself into the rapidly-growing internet economy. A project to lay fibre-optic cable across 5,000 km of Maharashtra is under way. Another plan aims to establish Internet Data Centers in six cities with a capacity to host over 10,000 servers to provide Web facilities for corporates and other organisations. The company declined to discuss specific investment numbers in the Net business. Industry experts estimate that Enron would have to spend around $500 million in the Net-related businesses. Indian industry officials expect India's Internet connections to exceed five million in 2002 from 1.6 million in August this year. The figure is expected to surge to 35 million by 2008. Investments in bandwidth projects is itself seen between $3 to $5 billion over the next three years.

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