Sterlite Bags Mega Telecom Deals
Sterlite Technologies Limited, a provider of transmission solutions for the telecom and power industries, announced that it has received new telecom contracts to the tune of over Rs. 600 crore from companies (undisclosed) in India and Africa.
According to the company, over 30 percent of the contract value is expected to be executed within the financial year of 2010. The rest of which will be completed in FY2011. This phased approach is being used on the basis of client delivery schedules.
The new contracts take the total order book to approximately Rs. 2,050 crore.
"We are seeing renewed activity from across the world, with telecom and power incumbents starting to build new networks. With our global scale of operations and technical capabilities to develop solutions for evolving applications, we believe we are positioned to benefit from the global opportunities," said Pravin Agarwal, director, Sterlite Technologies.
Currently, Sterlite is in the midst of extending its 6 million km optical fiber facility to 12 million km, and it is expected to be completed in the current financial year itself. This is part of an ongoing plan to reach the 20-million km mark.
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