IDBI, he said, has already invested Rs 300 crore as a rupee term loan. He added that ASSL was in talks with other banks and financial institutions (FIs) at this stage. He was however unwilling to elaborate on the issue. On the deal with Alcatel, Mr Singh said that he did not rule out the possibility of them picking up an equity stake in the new venture. He added that the venture was expected to produce positive cash flows in the next three years. Agrani Satellite Services is part of ASC Enterprises. ASC is the holding company of Agrani Convergence (ACL) and Public Mobile Radio Trunking Services (PMRTS). These companies are part of the Essel group and have been promoted by Subhash Chandra. ACL, as part of its expansion plans, has opened a chain of retail stores which will sell convergence products/devices. According to Mr Singh, ACL will eventually open over two thousand retail establishments of this kind in India. "The investment for this project is Rs 200 crores" said Mr Singh. Other plans of the companyinclude the relaunch of ICO. Mr Singh said a new entity has been created which consists of a $1.2 billion investment by Craig McCaw, chief of ICO. Mr Chandra will make an investment of $50 million in this venture.