Sterlite Technologies bags Rs 254 crore project

Gurgaon, Sep 30

Sterlite Technologies recently won Rs 254 crore contract from Power Grid Corporation of India (PGCIL). As per PGCIL's requirement, about 60 percent of the contract value would be executed within the current fiscal.

The company currently has a cumulative manufacturing capacity of 1,15,000 metric tons (MT), making it the largest manufacturer in India and amongst the top five global manufacturers of power conductors.

Sterlite is increasing the manufacturing capacity at its power conductor's facility to 160,000MT, doubling the manufacturing capacity at its optical fiber facility to 12 million-km and tripling the manufacturing capacity at its fiber optic cables facility to 6 million-km.

Pravin Agarwal, Director, Sterlite Technologies said, "Over the past several business quarters, we have achieved tremendous success in key high-demand markets in several geographies, and have established a loyal customer base. All our capacity expansion programs are well in progress and are scheduled to complete within the current fiscal. With the strong outlook by the telecom and power sectors in India across the globe, we believe that these capacity enhancements would give us the strategic advantage to capitalize on the available opportunities."