Sterlite Tech bags $35 mn contract from Rajasthan Rajya Vidyut Prasaran

MUMBAI: Sterlite Technologies has bagged a contract valued at Rs 1.4 billion ($35 million) from Rajasthan Rajya Vidyut Prasaran Nigam, for manufacture and supply of ACSR Moose power transmission conductors. The conductors will be delivered from February through November 2008.

Sterlite is the sole manufacturer and supplier for over 5600 km of ACSR Moose conductors that would be installed in 530 km route length of 400 KV single circuits and 180 km route length of double circuit transmission lines in Rajasthan. Sterlite currently supplies about 27 per cent of India's total demand for power transmission & distribution conductors. In first half of 2007-08, the company's exports of power conductors accounted for about 28 per cent of total revenues from sale of its power conductors.

Sterlite has a manufacturing capacity of 115,000 metric tonne. It currently has about 3 per cent global market share for power transmission conductors and these products have been sold in 38 countries across Africa, Middle East, Asia and Europe. At 11:09 am, Sterlite Technologies shares were up 0.15 per cent at Rs 342.90 on BSE.