Polycab to implement BharatNet project for BSNL

Polycab India (BSE:POLYCAB) has entered into an agreement with Bharat Sanchar Nigam Limited (BSNL) to act as the Project Implementation Agency (PIA) for the BharatNet program. The project, valued at ₹3002.99 crore inclusive of GST, will see Polycab oversee the design, supply, construction, installation, upgradation, operation, and maintenance of the middle mile network in the Bihar Telecom Circle under Package No. 7. This includes capital expenditure of ₹1549.66 crores, and operational expenditure (Opex) of ₹929.79 crores for newly constructed network and ₹523.53 crores for existing network. The construction phase is expected to last three years, followed by a ten-year maintenance contract. The maintenance contract is structured at 5.5% per annum of capex for the first five years and 6.5% for the subsequent five years.