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The board of Himachal Futuristic Communications on Thursday considered and approved setting up an optical fibre manufacturing facility as backward integration of its optical fibre cable manufacturing activity at Hyderabad. This unit will have capacity of approximately six million fibre kilometre per annum. The estimated project cost will be ₹225 crore, which would be funded by debt, internal accruals, and fresh funding. The facility is likely to become operational in eighteen months time. The company manufactures optical fibre cables at its Goa plant; besides at Chennai through its subsidiary HTL Ltd. The move is aimed at reducing the input cost and overcoming the worldwide shortage of fibre, the company said in a statement to the exchanges. Shares of HFCL slumped 7.9 per cent at ₹15.15 on the BSE.
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