Sterlite Technologies said on Thursday that it has bagged three contracts worth Rs 296 crores from Power Grid Corporation of India (PGCIL) for supplying power transmission conductors. The supplies of the conductors would begin from August 2008.

 

These contracts have raised the orders of Sterlite Technologies to Rs 1020 crores for the financial year 2009. Pravin Agarwal, the Director of Sterlite technologies was delighted to receive such a huge contract from PGCIL and said that the increased capacity for manufacturing power transmission conductors will help the company to maintain equilibrium between demand and supply in the Indian market. He also said that it would help to increase the global shares of the company.

 

It is to be noted that PGCIL is the largest buyer of power transmission conductors in India whereas Sterlite is the largest supplier for PGCIL's all India requirements.