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Sterlite Technologies Wins US$ 17.5 Million Contract from EEPCo Ethiopia - Chosen as the sole supplier of AAAC Power Transmission Conductors for this project; Company fortifies its market share to about 14% in Africa & the Middle East
Sterlite Technologies Wins US$ 17.5 Million Contract from EEPCo Ethiopia

 

NewswireToday - /newswire/ - Pune, Maharashtra, India, 2008/02/11 - Chosen as the sole supplier of AAAC Power Transmission Conductors for this project; Company fortifies its market share to about 14% in Africa & the Middle East.

   
 
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Sterlite Technologies Limited (formerly, Sterlite Optical Technologies Ltd), India’s leading global provider of Power Transmission Conductors, Optical Fibers and Telecommunication Cables today announced that it has received a contract from Ethiopian Electric Power Corporation (EEPCo), Ethiopia for manufacture and supply of AAAC Power Transmission Conductors. The contract is valued at US$ 17.5 Million (approximately INR 700 Million) and as per customer requirements; the deliveries are scheduled from April 2008 through September 2008.

Sterlite was chosen as the sole manufacturer and supplier for over 17,000 km of ‘AAAC Conductors’ that would be installed in the 4,000 km route length of the ‘Accelerated Electrification Programme (AEP) Project’ being executed under World Bank funding in Ethiopia.

Sterlite has a fortified its market share to about 14% in Africa & the Middle East with its Power Transmission Conductors products sold in 32 countries across the region to reputed Turnkey, Utilities and Infrastructure companies such as SONELGAZ - Algeria, EEPCo - Ethiopia, KPLC – Kenya, PHCN – Nigeria, ESKOM - South Africa and FEWA - UAE, to name a few.

For the 9-months in FY 2007-08, Sterlite’s export sales for its Power Conductors accounted for about 35% of total revenues from sale of its Power Conductor products. The Company currently supplies about 27% of India’s total demand for power transmission & distribution conductors.

Says Mr Pravin Agarwal – Director, Sterlite Technologies Limited, “We are honored to partner with EEPCo for this project. With over a decade of experience with the varying requirements of our customers in global markets, supported with state-of-the-art integrated manufacturing facilities, we believe that Sterlite is uniquely positioned to deliver significant value to all our business partners.”

Sterlite is a significant contributor to the global power sector through indigenous manufacture of a complete range of power transmission conductors at Extra High Voltages (400kV - 800kV), High Voltages (66kV – 220kV) and power distribution conductors (11kV- 33kV). The Company has a cumulative manufacturing capacity of 115,000 MT (Metric Tons), making it the largest manufacturer in India and amongst the Top 5 global manufacturers of Power Conductors.

About Sterlite Technologies Limited

Sterlite Technologies Limited (formerly, Sterlite Optical Technologies Ltd) is India’s leading global provider of Optical Fibers, Telecommunication Cables and Power Transmission Conductors. It is India's only fully integrated Optical Fiber producer and one of the largest suppliers of Optical Fibers to overseas markets in China, Europe and South East Asia.

Sterlite Technologies Limited is listed on the National Stock Exchange and Stock Exchanges at Mumbai and Kolkatta.

The Company has a world class Optical Fiber manufacturing plant located at Aurangabad, India and Telecom Cable & Power Transmission Conductor plants at Silvassa, Haridwar & Pune, India.

 
 
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Written by / Agency / Source: Sterlite Optical Technologies Ltd

 
 

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Sterlite Technologies Wins US$ 17.5 Million Contract from EEPCo Ethiopia

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Publisher Contact: Keith Dsilva - Sterlite.com 
+91 20 30514000 keith.dsilva[.]sterlite.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Sterlite Optical Technologies Ltd securities in any jurisdiction including any other companies listed or named in this release.

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