Bharat Sanchar Nigam Limited (BSNL) has given HFCL an advance work order to execute phase 3 of BharatNet in the Punjab telecom circle. This advance work order (AWO) is worth Rs 2,501.30 crore. HFCL said that it has become the first company to sign an agreement with BSNL as the Project Implementation Agency (PIA) under BharatNet Phase 3. HFCL will now take immediate steps to commence project implementation.
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On Thursday morning, shares of HFCL were trading at Rs 89.89, up 1.23% from the previous closing price. For the unaware, BSNL and BBNL (Bharat Broadband Network Limited) were decided to be merged to create more efficiency in the process of laying out fiber and monetising it. BBNL was tasked with planning and executing the BharatNet project. But now, BSNL has taken that charge and is helping out BBNL in laying fiber as the former has way more experience in doing that.
With the BharatNet project, the Indian government wants high-speed broadband internet to reach every part of the country so that the digital divide can be reduced. Now, the BharatNet project is in phase-3 and the orders for it are assigned by BSNL.
