Sterlite Tech to double optical fibre cable capacity

Optical fiber maker Sterlite Tech Friday announced doubling of its cable solutions capacity to 33 million fiber km.

It announced, "the addition of 15 million fiber km to its optical fiber cabling capacity, doubling it to 33 million fiber km".

The company's board of directors has approved a Rs 320 crore (USD 44 million) capital expenditure for this expansion, which will be financed through a mix of internal accruals and debt, Sterlite Tech said in a BSE filing.

It said the enhanced capacity is expected to come on-line by June 2020 in a phased manner.

"Given exponential data growth, telcos, internet companies, and governments around the globe are looking for innovative network solutions for hyper-scale connectivity," it added.