- Acquisition of 64.98% equity stake in MTCIL JV from Sterlite Technologies Limited
- This acquisition is in line with Sterlite Power’s strategy to establish a strong OPGW fiber network in the country utilizing overhead Right-of-way of Power Utilities
New Delhi, 18thApril2022: Sterlite Powerhas announced acquisition of 64.98% equity stake in Maharashtra Transmission Communication Infrastructure Limited(“MTCIL”) – a joint venture with Maharashtra State Electricity Transmission Company Limited (“MSETCL”).
MTCIL is a Public Private Partnership for OPGW (Optical Ground Wire) Fiber networks operating on a ‘BOOM’ model. MTCIL operates a fiber network of ~3,162 kms across 35 Co-locations, serving Telcos, ISPs and data centers, in the state of Maharashtra. Sterlite Power acquired this equity stake from Sterlite Technologies Limited (STL).
Commenting on theacquisition, Mr. Pratik Agarwal, Managing Director, Sterlite Power, said, “OPGW fiber networks offer a reliable data delivery solution and help leverage the existing power utility infrastructure for telecommunications purposes. We intend to replicate this PPP OPGW model in other parts of the country. Such large-scaleOPGW fiber roll-out is essential to achieve the ‘Digital India’ vision aimed at transforming the country into a digitally empowered society and knowledge economy.”
About Sterlite Power:
Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider. The company has a portfolio of 28 projects covering approximately 13,950 circuit Kms of transmission lines across India and Brazil. The Company also manufactures high-performance power conductors, extra high voltage (EHV) cables and optical ground wires (OPGW). The Company provides bespoke solutions for the upgrade, uprate and fiberization of existing transmission infrastructure projects. The Company was recognised at The Economic Times Innovation Awards 2020 and is a recipient of awards from International Project Management Association (IPMA).