Sterlite Tech bags $17.5 mn order from Ethiopian govt

MUMBAI: Sterlite Technologies has bagged a contract from Ethiopian Electric Power Corporation, valued at $17.5 million, for manufacture and supply of AAAC power transmission conductors. The equipment will be delivered from April through September.

Sterlite was chosen as the sole supplier for over 17,000 km of AAAC conductors that would be installed in the 4,000 km route of the accelerated electrification project being executed under World Bank funding in Ethiopia.

Sterlite's export sales of power conductors accounted for about 35 per cent of total revenues for the nine months in FY 2007-08. It currently supplies about 27 per cent of India's total demand for power transmission and distribution conductors.

At 10:35 am, Sterlite Technologies shares were down 0.91 per cent at Rs 202.25 on BSE.