Sterlite Power picks up majority stake in MTCIL
Without sharing any further details, Sterlite Power said the acquisition is in line with its strategy to establish a strong Optical Ground Wire (OPGW) fibre network in the country.
Sterlite Power on Monday said it has acquired a 64.98 per cent equity stake in Maharashtra Transmission Communication Infrastructure Limited.
The company said in a statement that it has “acquired this equity stake from Sterlite Technologies Limited (STL).”
Without sharing any further details, Sterlite Power said the acquisition is in line with its strategy to establish a strong Optical Ground Wire (OPGW) fibre network in the country.
MTCIL (Maharashtra Transmission Communication Infrastructure Limited) operates a fibre network of 3,162 kms, serving telcos, ISPs (internet service providers) and data centres in Maharashtra.
Pratik Agarwal, managing director, Sterlite Power, said, “OPGW fibre networks offer a reliable data delivery solution and help leverage the existing power utility infrastructure for telecommunications purposes. Such large-scale OPGW fibre roll out is essential to achieve the ‘digital India’ vision aimed at transforming the country into a digitally empowered society and knowledge economy.”
Sterlite Power, a private sector transmission infrastructure developer and solutions provider, has a portfolio of 28 projects covering around 13,950 circuit kms of transmission lines across India and Brazil.
The company also manufactures high-performance power conductors, extra high voltage cables and optical ground wires.