ZTEsoft, the software business of ZTE, is planning to invest Rs 600 crore in smart city projects in India in the next five years, PTI reported.
“ZTEsoft is keen to work in smart city projects in India and ready to invest Rs 500 crore in next five years,” said ZTEsoft International CEO Ben.
In addition to Rs 500 crore, ZTEsoft will spend around Rs 100 crore on setting up a dedicated center for smart city projects and brand building. ZTE has worked in 38 smart city projects across the globe.
Recently, India government approved budget outlay of Rs 48,000 crore for setting up 100 smart cities across the country.
Prasoon Sharma, managing director for Enterprise Business, ZTEsoft India and South Asia, said that ZTEsoft will have a dedicated team for smart city projects. The company will also invest around Rs 40 crore to set up a dedicated centre of excellence to work with Indian government for various projects of smart cities.
ZTEsoft chief marketing officer Fu Jianjun said the company will invest additional Rs 40-50 crore to build ZTEsoft brand in India over 5 years.