The Kerala State Electronics Development Commission in India has sought approval from the Foreign Investment Promotion Board for a proposed Southern Wireless Communication Company being formed between the state government and Comsat Corp’s Comsat Tech Services, Washington: Comsat will have 25% of the equity and international financial institutions and venture funds 23%; the first phase will cost about $20m in which a wireless communication system will be established in India through 20 service points; phase two at $175m will provide 150 additional points of service in Karnataka, Andhra Pradesh, and Tamil Nadu; 50% of revenues will go to provide subsidised service to low-income group users in remote areas.
