Sterlite Wins in India

US$55 million contract wins with the Power Grid Corporation of India (PGCIL)

September 26, 2008

1 Min Read

PUNE, India -- Sterlite Technologies Limited ("Sterlite") [BSE (Bombay Stock Exchange): 532374, NSE (National Stock Exchange of India, Mumbai): STRTECH], a leading global provider of wire and cable solutions for the power and telecom industry, today announced recent contract wins from Power Grid Corporation of India (PGCIL). The contracts, which are for Sterlite's ACSR Moose power conductors, are worth a total of Rs 254 Crores (US$ 55 Million). As per PGCIL's requirement, about 60% of the contract value would be executed within the current fiscal. As on date the company has a strong order book valued at over Rs 1400 Crores (US$ 304 Million).

The Company currently 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. Keeping with the unprecedented growth in demand from the Indian and global telecom and power sectors, Sterlite is increasing the manufacturing capacity at its Power Conductors facility to 160,000MT, 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.

Says Mr Pravin Agarwal, Director - Sterlite Technologies Limited, "Over the past several business quarters we have achieved tremendous success in key high-demand markets in several geographies and have established a loyal customer base. All our capacity expansion programs are well in progress and are scheduled to complete within the current fiscal. With the strong outlook by the Telecom & Power sectors in India & the world, we believe that these capacity enhancements would give us the strategic advantage to capitalize on the available opportunities."

Sterlite Technologies Ltd.

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