Sistema Shyam TeleServices Limited (SSTL) has signed a $70 million loan agreement with the Bank of China to fund its nationwide wireless infrastructure for mobile services. Currently, SSTL has operations in six circles and plans to soon launch services in Jharkhand, Delhi, Haryana, Karnataka, Mumbai, Maharashtra and Goa. The operator has received the loan for a period of eight years with a moratorium of three years on the principal repayment. The company plans to use the funds for ourcing equipment from China’s ZTE to build its CDMA network.
