Acquisition of 64.98% equity stake in MTCIL JV from Sterlite Technologies Limited
This acquisition is in line with Sterlite Power’s strategy to establish a strong OPGW fiber network in the country utilizing overhead Right-of-way of Power Utilities
Hyderabad / New Delhi, 18th April 2022: Sterlite Power has announced acquisition of 64.98% equity stake in Maharashtra Transmission Communication Infrastructure Limited (“MTCIL”) – a joint venture with Maharashtra State Electricity Transmission Company Limited (“MSETCL”).
MTCIL is a Public Private Partnership for OPGW (Optical Ground Wire) Fiber networks operating on a ‘BOOM’ model. MTCIL operates a fiber network of ~3,162 kms across 35 Co-locations, serving Telcos, ISPs and data centers, in the state of Maharashtra. Sterlite Power acquired this equity stake from Sterlite Technologies Limited (STL).
Commenting on the acquisition, Mr. Pratik Agarwal, Managing Director, Sterlite Power, said, “OPGW fiber networks offer a reliable data delivery solution and help leverage the existing power utility infrastructure for telecommunications purposes. We intend to replicate this PPP OPGW model in other parts of the country. Such large-scale OPGW fiber roll-out is essential to achieve the ‘Digital India’ vision aimed at transforming the country into a digitally empowered society and knowledge economy.”