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INDIA'S STERLITE TECH BAGS US$17.5 MLN CONTRACT FROM ETHIOPIAN CO
Monday, February 11, 2008; Posted: 09:11 PM
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MUMBAI, Feb 12, 2008 (AsiaPulse via COMTEX) -- SRLPF | news | PowerRating | PR Charts -- Global provider of optical fibres Sterlite Technologies (BSE: 532374) on Monday said it has bagged an US$17.5 million (about Rs 70 crore) contract from an Ethiopia-based power company to manufacture and supply power transmission conductors.

Sterlite has received the contract from Ethiopian Electric Power Corporation (EEPCo) to manufacture and supply AAAC power transmission conductors, it said in a filing to the Bombay Stock Exchange.

The deliveries of the conductors are scheduled to take place from April to September this year.

Sterlite has been chosen as the sole manufacturer and supplier for conductors that would be installed in the 4,000 km route length of the 'Accelerated Electrification Programme (AEP) Project' in Ethiopia, the filing added.

The project is being executed under the World Bank funding in that country.

"We are honoured to partner with EEPCo for this project. With over a decade of experience we believe that Sterlite is uniquely positioned to deliver significant value to all our business partners," Sterlite Director Pravin Agarwal said.

Sterlite has fortified its market share to about 14 per cent in Africa and the Middle East with its power transmission conductor products sold in 32 countries across the region to reputed turnkey, utilities and infrastructure companies, the filing said.

(PTI)

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