All agreed loans

India. Aircel Limited

Date of agreement: 31 Mar 2011
Country: India
Customer: Aircel Limited
Amount in USD: USD 100 million
Amount in EUR: EUR 70.4 million
Maturity: 10 years
NACE sector / loan type: Post and telecommunications


The loan has been provided to finance the company's new 3G and broadband wireless access project in India. Aircel Limited has won a national auction for building 3G in 13 of India's national telecom circles and 8 broadband wireless access circles. As a result of this investment programme, Aircel expects to treble its subscriber base to 156 million and increase its market share from 9% to 13%.

With a population of almost 700 million subscribers, India is the world's second largest mobile market. The country's mobile subscriber base continues to be the fastest growing in the world. In 2009 alone, India added over 178 million subscribers.

Fulfilment of NIB's mandate

The Nordic suppliers Ericsson and Nokia Siemens Networks have turnkey contracts with Aircel as part of framework agreements covering the network implementation of six telecom circles for Ericsson and three for NSN. Both Nordic producers have established large, globally integrated R&D centres in India for developing innovative solutions for both technology (particularly, improving energy efficiency) and value added services. Technological cooperation with Aircel and the involvement in 3G rollout in India will further increase the competitiveness of these member country companies.

Sustainability summary

The main environmental issue is the management of electronic waste, i.e. how exchanged equipment is disposed of.