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STL plans to continue to plough in about three per cent of its annual revenue in industry-leading research on areas of optical solutions and wireless solutions including 5G.
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Digital networks integrator Sterlite Technologies (STL) on Friday announced plans to expand its optical fibre manufacturing capability, including new facilities in the US and UK with a total investment of about Rs 200 crore.
The optical fibre cable capacity will be boosted to 42 million fibre kilometres, from 33 million fibre kilometres, the company said in a statement.
These capacity enhancements will enable the extensive fibre build-outs planned across the US, Europe, and UK to boost rural broadband and 5G programs.
'To grow its end-to-end optical solution Opticonn, the company plans to expand its optical fibre manufacturing capabilities from 33 to 42 mn fkm, including new facilities in the US and UK with a total additional investment of about Rs 200 crore,' it said.
STL plans to continue to plough in about three per cent of its annual revenue in industry-leading research on areas of optical solutions and wireless solutions including 5G.
Commenting on the company's future plans, Anand Agarwal, Group CEO of STL said, 'the last year paved the way for a decade of network creation. STL has worked towards capacity and capability enhancements through strategic investments in manufacturing, research and global talent'.
The sustained investments along with deep customer engagement will drive the next phase of growth propelling the company towards an annual revenue run rate of Rs 10,000 crore by the end of FY23.
With its portfolio spanning optical fibre and cables, network design and deployment as well as network software, Pune-based STL positions itself as an integrated solutions provider for global data networks, with optical preform, fibre and cable manufacturing facilities in India, Italy, China and Brazil.
(PTI)