Sterlite Optical bags 150cr contracts from PGCIL

New Delhi, Feb 23: Sterlite Optical Technologies Ltd today said it has received Rs 150 crore contracts from Power Grid Corporation of India (PGCIL) for supply of 400kV and 765kV power transmission conductors.

The delivery of the orders, expected to commence within this month, is scheduled over the next 22 months.

The company is preparing to capitalise on the demand 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).

India's transmission perspective plan focuses on the creation of a 'National Grid' in a phased manner by adding over 60,000 km of transmission network by 2012. Such an integrated grid shall evacuate additional 1,00,000 MW by the year 2012 and carry 60 per cent of the power generated in the country, the company said.

The existing inter-regional power transfer capacity is 9,000 MW, which is to be further enhanced to 30,000 MW by 2012 through creation of 'Transmission Super Highways'. For creation of such a grid, an investment of Rs 71,000 crore is envisaged, it added.

''Our business strategy is to consolidate. our market share in India and build a global customer base for our company. We have shared a positive business relationship with PGCIL that spans about a decade,'' company Director Pravin Agarwal said.

Sterlite Opticals has a 23 per cent in the domestic power transmission and distribution conductors market.

The company acquired the transmission business from Sterlite Industries (India) Ltd in August 2006.

UNI