Polycab secures BharatNet project deal with BSNL

Polycab India Limited [BSE: 542652] announced that it has entered into an agreement with Bharat Sanchar Nigam Limited (BSNL) to serve as the Project Implementation Agency (PIA) for the BharatNet project, a national initiative to enhance connectivity. Under the agreement, Polycab will oversee the design, supply, construction, installation, upgradation, operation, and maintenance of the middle mile network in the Karnataka, Goa, and Puducherry Telecom Circle regions. The project, designated as Package No. 4, is valued at INR6,447.54 crores, inclusive of GST. This encompasses a capex of INR3,741.92 crores, INR2,245.15 crores for the newly constructed network and INR460.47 crores for existing network. The construction phase is projected to span three years, followed by a 10-year maintenance period. Polycab is expected to receive annual maintenance fees based on a percentage of the capex.