Sterlite Technologies plans Chinese JV to produce optical fibreBy IANS
Wednesday, November 17, 2010
NEW DELHI - Global telecom and power transmission solution provider Sterlite Technologies and optical cable solutions provider Jiangsu Tongguang Communication Wednesday said they will form a joint venture company — Jiangsu Sterlite and Tongguang Optical Fibres — in China.
The joint venture will be manufacturing, marketing and distributing optical fibre used in the production of fibre optic cables.
Under the agreement, Sterlite will bring expertise in optical fibre technology and Jiangsu Tongguang Communication will bring fibre cable manufacturing and market expertise in the Chinese market.
“With the continued roll-out of 3G telecom services, China has retained its position as the largest market for optical fibres in the world. We believe that China would continue to develop and upgrade its telecommunication infrastructure to remain globally competitive and this would ensure that the demand for optical fibres would be sustained over the long term, said Pravin Agarwal, whole-time director of Sterlite Technologies.