Sterlite Power acquires 64% stake in MTCIL JV for fiber network in Maharashtra

19 Apr 2022 , 11:24 AM

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 theacquisition, 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-scaleOPGW fiber roll-out is essential to achieve the ‘Digital India’ vision aimed at transforming the country into a digitally empowered society and knowledge economy.”