STL Fires Up Growth with Rs 3,000-Crore Optical Fiber Expansion

Sterlite Technologies’ (STL) board has approved a Rs 3,000-crore capital expenditure plan to expand manufacturing capacity at its existing facility.

The proposed expansion is expected to increase the company’s installed manufacturing capacity by approximately 50 percent. The investment is being undertaken to meet anticipated global demand for optical fibre cables and connectivity products and strengthen STL’s manufacturing capabilities. The company said its existing capacity utilisation is around 70 percent. The planned capex will be funded through internal accruals and/or debt. The expansion reflects the company’s focus on scaling production in response to rising demand for optical fibre and connectivity infrastructure globally. The capacity addition is expected to be completed by FY29.

The project will strengthen STL’s existing manufacturing operations as well as support future growth in the broadband and digital connectivity sector.

News by Rahul Yelligetti.