Sterlite Technologies Limited (“Sterlite”), a leading global provider of wire and cable solutions for the telecom and power industries, today announced that it has received a contract from Bharat Sanchar Nigam Limited (BSNL), India to supply fiber optic cables with the highest density ever to be deployed in the country. The contract worth Rs 24 Crores (US$ 5 Million) is for Sterlite’s RIBBON-LITE ™ 288F ribbon fiber optic cables, which BSNL would initially install in about 100 city sites across the country in the rapidly growing FTTx (fiber-to-the-“x”) applications sector.
This is the first time ever that, fiber optic cables higher than 144F would be deployed in India. Ribbon fiber optic cables provide an efficient means to achieve high fiber density, as well as reduce the time per fiber required for installation, thus facilitating quick roll-out of the network. Sterlite is the pioneer of ribbon fiber optic cables in India and has supplied over 60% of the country’s requirements of these specialized cables since Year 2003.
Says K S Rao, COO (Telecom Business) - Sterlite Technologies Limited, “Higher computer penetration, greater usage of the internet, coupled with emergence of content rich business applications have resulted in an exponential increase in demand for bandwidth. In FY08, the number of broadband subscribers in India grew by nearly 65% over that in FY07 and India is currently positioned as the 4th largest consumer of optical fiber in the world. As industry leaders, we work closely with leading telecom incumbents in the country to develop solutions that would create a future-proof platform capable of supporting the demand for bandwidth intense applications. We are honored to be chosen as partners in India’s telecom revolution.”
Keeping with the unprecedented growth in demand from the Indian and global telecom and power sectors, Sterlite doubling the manufacturing capacity at its Optical Fiber facility to 12 million-km, tripling the manufacturing capacity at its Fiber Optic Cables facility to 6 million-km and is increasing the manufacturing capacity by 40% at its Power Conductors facility to 160,000MT. All of Sterlite’s capacity expansion programs are well in progress and are scheduled to complete within the current fiscal.
About Sterlite Technologies Limited
Sterlite Technologies Limited (formerly, Sterlite Optical Technologies Ltd) is India’s leading global provider of power transmission conductors, optical fibers, telecommunication cables and telecom integration & managed services. It is India's only fully integrated optical fiber producer and among the Top 5 global manufacturers of power conductors. Sterlite Technologies Ltd. (sterlitetechnologies.com) is listed on the National Stock Exchange and Stock Exchanges at Mumbai and Kolkata. Sterlite Technologies has shown a consistent robust financial growth with CAGR of 75% in Net Revenues and CAGR of 115% in Net Profits for the period 2004-2008. The company has a world-class optical fiber manufacturing plant in Aurangabad, India, and telecom cable and power transmission conductor facilities in Silvassa and Haridwar, India.
About Bharat Sanchar Nigam Limited
Bharat Sanchar Nigam Ltd. (bsnl.co.in) formed in October, 2000, is the world's seventh largest telecommunications company providing a comprehensive range of telecom services in India including: wireline, CDMA mobile, GSM mobile, Internet, broadband, carrier service, MPLS-VPN, VSAT, VoIP services, IN Services etc. Within a period of five years it has become one of the largest public sector units in India. BSNL has installed a quality telecoms network in the country and is now focusing on improving it, expanding the network, introducing new telecoms services with ICT applications in villages and winning customer confidence.
Forward-looking and cautionary statements
Certain words and statements in this release concerning Sterlite Technologies Limited and its prospects, and other statements relating to Sterlite Technologies’ expected financial position, business strategy, the future development of Sterlite Technologies’ operations and the general economy in India, are forward looking statements. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of Sterlite Technologies Limited, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Sterlite Technologies’ present and future business strategies and the environment in which Sterlite Technologies Limited will operate in the future. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in government policies or regulations of India and, in particular, changes relating to the administration of Sterlite Technologies’ industry, and changes in general economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Sterlite Technologies’ control, include, but are not limited to, those risk factors discussed in Sterlite Technologies’ various filings with the National Stock Exchange, India and the Bombay Stock Exchange, India. These filings are available at nseindia.com and bseindia.com. Exchange rate considered 1US$ = Rs 46