Sterlite Power Monday said it has acquired a 64.98% stake in Maharashtra Transmission Communication Infrastructure Limited (MTCIL) for Optical Ground Wire (OPGW) fiber network in Maharashtra.
Sterlite Power is a power transmission infrastructure developer and solutions provider,
while MTCIL is a joint venture with Maharashtra State Electricity Transmission Company Limited (“MSETCL”).
“MTCIL operates a fiber network of about 3,162km across 35 co-locations, serving telcos, ISPs (internet service providers), and data centers, in the state of Maharashtra. Sterlite Power acquired this equity stake from Sterlite Technologies Limited (STL),” according to an official statement Monday.
However, the firms did not disclose any financial information about the acquisition deal.
“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,” said Pratik Agarwal, Managing Director, Sterlite Power.
