PUNE, India and LONDON, September 19, 2018 /PRNewswire/ --
Expansion will place the Company among the top integrated optical fibre and cabling companies globally
Sterlite Tech (BSE: 532374) (NSE: STRTECH), an end-to-end global technology leader in smarter digital networks, today announced the addition of 15 million fibre km to its optical fibre cabling capacity, doubling it to 33 million fibre km. This expansion will place the Company among the top integrated optical fibre and cabling technology providers globally.
The Company's Board of Directors has approved a Rs. 320 crore ($44 million) capital expenditure for this expansion, which will be financed through a mix of internal accruals and debt. The enhanced capacity is expected to come on-line by June 2020 in a phased manner.
As leading global markets invest in deep fiberisation for hyper-scale network applications such as 5G, FTTx and data centre connectivity, this expansion will reinforce Sterlite Tech's position as a leading provider of fibre and software-based smarter networking solutions.
"Given exponential data growth, telcos, internet companies and governments around the globe are looking for innovative network solutions for hyper-scale connectivity. Our customers see us as unique design-build-manage partners who are forward integrated from fibre and cable to network design and software solutions," said DrAnand Agarwal, CEO at Sterlite Tech. "This capacity investment will further deepen our customer engagement as we partner with them for network buildouts."
The Company is expanding its solutions portfolio very rapidly. Recently, it announced a 100% acquisition of Metallurgica Bresciana in Italy for cable expansion, while earlier it had announced an expansion of its optical fibre capacity via a Greenfield investment. Sterlite Tech is also actively working on software-defined networks in virtualised environments.
About Sterlite Technologies:
Sterlite Technologies Ltd (BSE: 532374) (NSE: STRTECH), is a global technology leader that designs, builds and manages smarter digital networks. Sterlite Tech engages with customers in more than 100 countries, with a digital web-scale offering across products, services and software. The Company has global scale manufacturing facilities in India, Italy, China & Brazil and two Software Delivery Centres in India. Sterlite Tech is home to India's only Centre of Excellence for broadband research and Centre for Smarter Networks for next generation network applications. Projects undertaken by the company include intrusion-proof smarter data network for the Armed Forces, rural broadband for BharatNet, Smart Cities' development, and establishing high-speed Fibre-to-the-Home (FTTH) networks.