Chennai, Mar 2 (PTI) An NRI backed Adpay Mobile Payment Pvt ltd has planned to launch new telecom service ‘Aerovoyce’ by next month, targeting five lakh customers in first year of operations, a top official said today.Also Read - Tamil Nadu Lockdown Update: Devotees Barred From Entering 22 Temples in Madurai till This Date | Full List Here

The company as part of launching the mobile service would invest about Rs 300 crore besides generating employments to 1,000 people, Adpay Mobile Payment India Pvt Ltd., Founder-CEO, Sivakumar Kuppusamy said. Also Read - Centre Urges States to Impose Lockdown-like Restrictions in Districts Reporting Positivity Rate Above 10%

In September 2016, Telecom Ministry said it had received nearly 70 applications for providing telecom services soon after guidelines related to virtual network operator was launched. Also Read - Tamil Nadu Lockdown Update: Govt Extends Restrictions Till August 9, Check What’s Allowed, What’s Not

The virtual network operator (VNO) will be an entity providing telecom services like mobile landline and Internet, but only as a retailer for full-fledged telecom operators such as BSNL, MTNL, Airtel and the like.

“We are planning to launch the service in Tamil Nadu, Chennai and Puducherry circles on April 14. Our capex (capital expenditure) will be around Rs 300 crore”, Kuppusamy told PTI.

“Aerovoyce is new branded telecom. We will pay for the infrastructure from them (existing mobile operators) since we do not own a spectrum. We will be operating through VNO service. Our target is to get five lakh subscribers in first year of operations”, Kuppusamy said.

He said he had already invested in couple of telecom companies in Switzerland, Germany, Spain, Austria. “Though I have investments there (in foreign telcos), here I will be holding full control (of Aerovoyce)”, he said.

This is published unedited from the PTI feed.