American Tower Corporation, a leading independent owner, operator and developer of broadcast and wireless communication sites, is looking at growth opportunities in India. "Apart from growing organically, we will also look at growing inorganically, if we spot some good opportunities," Amit Sharma, Executive Vice President and President - Asia, American Tower Corporation, told Projectmonitor.
Sharma said that ATC was committed to the Indian market and was confident that the company would emerge as India's leading independent tower company in the next three-five years. The company has so far invested over Rs 1,000 crore in India, he said, adding ATC India planned to become a leading independent cellular infrastructure provider.
Speaking about ATC's technological expertise, Sharma noted, "We are confident that with our domain expertise, time tested systems and processes, project management expertise and financial strength, we will be able to add substantial value to our customers."
When questioned about funding ATC India's expansion plans, he said parent company American Tower Corporation had a strong balance sheet with about $700 million of free cash flow available annually.
Recently, ATC completed the acquisition of XCEL Telecom Pvt. Ltd which owned about 1,660 towers located in 15 telecom circles in India, averaging 1.4 tenants per tower. Additionally, XCEL had some 70 towers in various stages of development that American Tower plans to complete over the next few months.
ATC, headquartered in Boston, USA, owns and operates over 25,000 communications sites in the US, Mexico, Brazil and India.
Source : ProjectsMonitor
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