Business Daily from THE HINDU group of publications
Friday, Nov 17, 2006
ePaper
Business Daily from THE HINDU group of publications Friday, Nov 17, 2006 ePaper |
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Info-Tech
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New Projects Sterlite Optical to invest Rs 105 cr in capacity expansion Our Bureau
Mumbai , Nov. 16 Sterlite Optical Technologies (SOTL), an integrated manufacturer of optical fibres and telecom cables, is investing Rs 105 crore in expanding its optical fibre production capacity and setting up a new power transmission conductor manufacturing capacity at Haridwar, Uttaranchal. The Haridwar greenfield project will have a capacity of 40,000 tonnes per annum, increasing the company's manufacturing capacity to 1,15,000 tonnes per annum, from 75,000 tonnes per annum at present. This capacity will be set up at a cost of Rs 60 crore and will be operational before March 2007, said Mr Anand Aggarwal, CEO, Sterlite Optical. "The Haridwar project will cater to demand in the northern part of the country," he told Business Line. The project would be funded broadly through internal accruals. It would bolster the revenues of the segment by about 35 per cent, he added. SOTL also has a 60,000-cable-km facility at Silvassa.
Ramp-up plans
The company will invest Rs 45 crore to ramp up the manufacturing capacity of its integrated optical fibre plant in Aurangabad from 4 million-km to 6 million-km. The additional capacity will be operational by the first half of next year. "The demand for optical fibres has grown at a consistent rate of 35-40 per cent year-on-year. As we already occupy 65 per cent of the market share in this segment, the new facility will allow us to cater to the increasing demands," said Mr Aggarwal. The company expects its revenues from its optical fibre segment to increase by over 50 per cent annually as a result of the expansion.
More Stories on : New Projects | Broadband
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