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Sterlite Technologies strengthens its market foothold in Africa
|14 января 2009|
Sterlite Technologies has received contracts for its fiber optic cables for deployment by leading telecom incumbents in Sub-Saharan Africa for the expansion of their telecom backbone infrastructures. The contracts are worth a total of US$ 5.2 Million (~Rs 24 Crores) to Sterlite and supplies would be executed with FY 2008-09.
Sterlite's telecom & power products have been sold in 24 countries across Africa. Sterlite has a firm market share of about 14% for bare overhead power conductors and a growing market share of about 10% for fiber optic cables. Sterlite's past successes in the region include contracts with reputed incumbents like Sudan Petroleum Pipeline Company (SPPC). In order to service the growing needs of its customers in Africa, Sterlite has recently opened its sales & marketing office in Johannesburg, South Africa.
Says K S Rao, COO (Telecom Business) - Sterlite Technologies Limited, "A key aspect of our growth strategy has been a concerted focus on high-growth and developing markets. The African market has reported a CAGR in demand of about 10% between 2004 and 2008, with the demand being prompted by new inter-city backbones deployed by incumbents and alternative operators such as power utilities, oil and gas pipeline owners and highway authorities. Since our entry into the African market about 3 years ago, we have achieved significant milestones in product acceptance, market penetration and customer retention. We believe that Sterlite is well positioned for future growth in this region."
Keeping with the unprecedented growth in demand from the global and Indian telecom and power sectors, Sterlite is 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.