MTNL to repay Rs 125 crore debt to PSU bank by this month end

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State- owned Mahanagar Telephone Nigam Limited ( MTNL) to repay its debt of Rs 125 crore by this month end.

MTNL to repay Rs 125 crore debt to PSU bank by this month end

"About Rs, 125 crore is due for repayment, which we will be paying three days before the deadline...As far as the financing is concerned we do not see a challenge," PTI quoted MTNL Chairman and Managing Director, PK Purwar.

It said that the company will be able to the repayment due to "one of the public sector bank", a few days before the June-30 deadline, PTI reported.

To recall, the company is also planning to repay its debt by monetizing its assets in Mumbai and Delhi.

"We have assets in the form buildings and lands which we are not using properly,"Purwar told Gizbot.

He said, "We want to monetize assets and for that, we have already submitted the proposal to telecom ministry three months back for consideration," Adding that MTNL had hired JLL as the consultant.

"We can raise Rs 4000 crore from those assets, he further added.

The public sector utility also plans to provide 8Mbps to its customers by bringing the small exchanges near their premises so that the customer loop length can be brought down less than to 1 Kilobits.

On expansion plans for this financial year, he said," broadband is one of the areas where we think we are strong and we can provide good services.

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