13 October 2008 -- Sterlite Technologies Ltd. (search for Sterlite) says it has received contracts for its fibre-optic cables for deployment by "leading telecom incumbents" in sub-Saharan Africa for the expansion of their telecom backbone infrastructures. The contracts are worth a total of US$5.2 million to Sterlite, and supplies would be executed with FY 2008-09.
Sterlite's telecom and power products have been sold in 24 countries across Africa; the company asserts it has a market share of about 10% for fibre-optic cables on the continent. To service the growing needs of its customers in Africa, Sterlite has recently opened a sales and marketing office in Johannesburg, South Africa.
Says K.S. Rao, COO (Telecom Business) at Sterlite, "A key aspect of our growth strategy has been a concerted focus on high-growth and developing markets. The African market has reported a CAGR in demand of about 10% between 2004 and 2008, with the demand being prompted by new inter-city backbones deployed by incumbents and alternative operators such as power utilities, oil and gas pipeline owners, and highway authorities. Since our entry into the African market about 3 years ago, we have achieved significant milestones in product acceptance, market penetration, and customer retention. We believe that Sterlite is well positioned for future growth in this region."
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