State-owned Indian Oil Corporation (IOC) is in the process of hiring a consultant for its proposed telecommunications foray.
The corporation has drawn up plans to become a telecommunications infrastructure provider by setting up a fibre optic network over its 6,500 km pipeline network across the country.
According to senior company officials, the corporation will take a call on the project keeping in view the consultant's suggestions.
IOC may also look at forming separate joint ventures with different private players in different states for rolling out the services. At present, the corporation's pipelines division is working on the project. Once the green signal is given to the project, it will come under the purview of the business development team.
A M Uplenchwar, director (pipelines) said, "We are in the process of finalising a consultant for advising us on the venture. We are open to forming joint ventures with different companies from the private sector in different states. We might also be open to making big investments in the venture, if the expected returns are good. We would be interested in setting up the network along major routes such as New Delhi-Mumbai and New Delhi-Calcutta."
However, the IOC brass is taking a long look at the feasibility of the project before committing themselves, as the initial interest generated in setting up a national backbone has waned in recent times. Already, a number of big players, including Reliance, the Tatas, Indian Railways, Bharti among others, are in various stages of implementing the telecom network.
Meanwhile, the company is also considering three more pipeline projects -- Vasco to Miraj in the western region, Chennai to Guntakal in the south and Patna to Gorakhpur in the north.
