Sterlite Tech aims 10% global fibre market share by June 2020

Broadband technology provider Sterlite Tech is looking at commanding 10 percent share of the global fiber market by June 2020, company's chief executive Anand Agarwal said Monday.

The company is also focussed on enhancing the production capacity of an optical fiber and optical fiber cables.

"We are now looking to move fiber market share from 6-7 percent to 10 percent of global by June 2020," Agarwal told PTI.

He said the company has already invested around Rs 1,200 crore for expansion of optical fiber, from which optical fiber cable (OFC) is made, a capacity to 50 route kilometer (RKm) from 22 million RKm.

Further, the company has announced to invest Rs 320 crore for expansion of optical fiber cable production.

"We will invest Rs 320 crore in over the period of two years to enhance our optical fiber cable (OFC) production from 18 million RKm to 33 million RKm by 2020," Agarwal said.

The company has OFC manufacturing unit in India, Europe and Brazil and optical fiber (from which OFC is made) plants in India and China.

"Our order book around same period last year was about Rs 2,700 crore. Now it has increased to around Rs 6,000 crore. Our current OFC production capacity is operating at 90 percent. To meet demand we need to ramp up the capacity," Agarwal said.

According to estimates shared by Sterlite, global fiber market is estimated to be around 530 million RKm and is growing at a rapid pace because of a proliferation of high speed.