American Tower Corporation (ATC) is set to build around 3,500 new tower sites in India by the end of 2020.
The development was shared by the company in its recently held third quarter earnings call.
According to Rod Smith, executive vice president, ATC, the towerco had built around 1,000 towers in India during the quarter ended (QE) September 30, 2020. To this end, ATC witnessed close to 14 per cent in returns.
Meanwhile, Tom Bartlett, president and chief executive officer (CEO), ATC, highlighted that the company is targeting to reduce its scope on fossil fuel consumption in diesel related greenhouse gas emissions in India by more than 60 per cent by 2027. Sharing the figures, he added that ATC has made significant progress towards the objective having reduced annual diesel consumption by 65 million liters since 2017, after normalising for site count growth.
ATC owns and operates 74,569 tower sites in India as of September 30, 2020, with the country accounting for 15.4 per cent of the total property revenue during the quarter. Furthermore, Airtel, Vodafone Idea (Vi) and Reliance Jio are said to be major telecom operators to be engaged with ATC in India.