Shilpi Cable Technologies has entered into an agreement with Crossbow Telecom Projects to undertake Turnkey Telecom Service Provider (TSP) business that is in relation to undertake civil and electrical works required for the set-up and establishment of telecom infrastructure.
Crossbow will be responsible for provision of Project Management and Consultancy for all the locations where TSP projects are implemented. Further, Crossbow will also identify the clients, liaison and secure projects on behalf of SCTL after taking due approvals from the board of SCTL.
Through this pact, SCTL will establish a separate TSP division within its management control. The division will be managed by a team of members which will be headed by Rajesh Suri and Nihal Singh, Directors, Crossbow Telecom Projects. For the operational and decisional efficiency of the new division, Rajesh Suri has been appointed as a Director (Telecom Projects) on the Board of Shilpi Cable Technologies Limited and Nihal Singh of Crossbow Telecom Projects Limited has been appointed as President (Telecom Projects) of Shilpi Cable Technologies Ltd.
Manish Goel, Director, Shilpi Cables Technologies, said, "Our Company was desirous of availing the services of a service provider who has knowledge and expertise to undertake the TSP business. Crossbow approached our company and expressed its desire to provide TSP services to us. SCTL has also assured Crossbow that it will at all times ensure availability of adequate working capital for the TSP business."
As per the agreement, Crossbow will be entitled to 33.33% share of gross profit generated from all projects and SCTL will be entitled to 66.67% share of gross profit generated from all projects.
