Sterlite Technologies gets contract from Ethiopia

Sterlite Technologies Ltd on February 11, 2008 announced that it has received a contract from Ethiopian Electric Power Corporation (EEPCo), Ethiopia for manufacture and supply of AAAC Power Transmission Conductors. The contract is valued at US$ 17.5 Million
(approximately INR 700 Million) and as per customer requirements; the deliveries are scheduled from April 2008 through September 2008.

Sterlite was chosen as the sole manufacturer and supplier for over 17,000 km of ‘AAAC Conductors' that would be installed in the 4,000 km route length of the 'Accelerated Electrification Programme (AEP) Project' being executed under World Bank funding in Ethiopia.

Sterlite has a fortified its market share to about 14% in Africa & the Middle East with its Power Transmission Conductors products sold in 32 countries across the region to reputed Turnkey, Utilities and Infrastructure Companies such as SONELGAZ - Algeria, EEPCo - Ethiopia, KPLC – Kenya, PHCN – Nigeria, ESKOM - South Africa and FEWA - UAE, to name a few.

For the 9-months in FY 2007-08, Sterlite’s export sales for its Power Conductors accounted for about 35% of total revenues from sale of its Power Conductor products. The Company currently supplies about 27% of India’s total demand for power transmission & distribution conductors.

Says Mr. Pravin Agarwal – Director, of the Company, "We are honored to partner with EEPCo for this project. With over a decade of experience with the varying requirements of our customers in global markets, supported with state-of-the-art integrated manufacturing facilities, we believe that Sterlite is uniquely positioned to deliver significant value to all our business partners."

Sterlite is a significant contributor to the global power sector through indigenous manufacture of a complete range of power transmission conductors at Extra High Voltages (400kV - 800kV), High Voltages (66kV – 220kV) and power distribution conductors (11kV- 33kV). The Company has a cumulative manufacturing capacity of 115,000 MT (Metric
Tons), making it the largest manufacturer in India and amongst the Top 5 global manufacturers of Power Conductors.