Sterlite Tech has added 15 million kilometres to its optical fibre cabling capacity, bringing it up to 33 million in a move which saw the board of directors approve a Rs 320 crore ($44 million) capital expenditure, which will be financed through a mix of internal accruals and debt.
The company also recently announced a 100 per cent acquisition of Metallurgica Bresciana in Italy for cable expansion (see Sterlite Tech expands global presence with Metallurgica acquisition), 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.
Dr Anand Agarwal, CEO at Sterlite Tech commented: ‘Given exponential data growth, telcos, internet companies and governments around the globe are looking for innovative network solutions for hyper-scale connectivity. This capacity investment will further deepen our customer engagement as we partner with them for network buildouts.’
The enhanced capacity is expected to come online by June 2020 in a phased manner.
