BackSterlite bags orders worth Rs278 cr
Sterlite bags orders worth Rs278 cr
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New Delhi: Global wire and cable solutions provider, Sterlite Technologies bagged orders worth Rs278 crore from four companies for supplying power transmission conductors.
The comapny press release stated that the orders are from domestic and overseas companies including Power Grid Corporation of India, Jaypee Powergrid, Rajasthan Rajya Vidyut Prasaran Nigam and Ethiopian Electric Power Corporation.
The power conductors would be supplied between September 2008 to December 2009, it said.
“Our business strategy is to consolidate our market share in India and build a global customer base for our own company," said Sterlite Technologies Director Pravin Agarwal.
The company currently has a cumulative manufacturing capacity of 115,000 MT, making it the largest manufacturer in India and amongst the top five global power conductor manufacturer.
Meanwhile, Sterlite announced plans to further enhance its manufacturing capacity to 160,000 MT keeping in line with the sustained demand from the global power industry.
Shares of the company surged 4% from previous close and touched an intra-day high of Rs181 on the announcement.
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