October 14, 2008

Sterlite Wins $5.2 Million Fiber-Optic Cables Contracts in Sub-Saharan Africa

Sterlite Technologies, a provider of wire and cable solutions for the telecom and power industries, has received contracts for its fiber-optic cables for deployment by telecom incumbents in sub-Saharan Africa for the expansion of their telecom backbone infrastructures. The contracts are worth a total of $5.2 million and supplies would be executed in fiscal year 2008-09.

Sterlite said that it 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.

KS Rao, COO of Sterlite Technologies, said: "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 three 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."