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Ethiopia: Indian Company Bags $17.5 Million Contract From EEPCo
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The Daily Monitor (Addis Ababa)
12 February 2008
Posted to the web 12 February 2008
Addis Abeba
Sterlite Technologies Ltd, a power conductors and optic fibre cable manufacturing company bagged a $17.5 million contract from the Ethiopian Electric Power Corporation (EEPCo) for the supply of power transmission conductors, the Maharashtra-based company said on Monday.
As per the agreement, Sterlite Technologies will deliver over 17,000 km of AAAC conductors, to be installed in the 4,000 km route length of the Accelerated Electrification Programme (AEP) from April 2008 to September 2008.
The project is being executed under World Bank funding in Ethiopia.
"We are honoured to partner with EEPCo for this project. EEPCo adds to our list of our clients from the region that includes reputed companies like SONELGAZ-ONELGAZ (Algeria), EEPCo (Ethiopia), KPLC (Kenya), PHCN (Nigeria), ESKOM (South Africa) and FEWA (UAE)," Pravin Agarwal, director of Sterlite Technologies said in a media statement posted on the company's website.
Sterlite currently controls 14 percent of the power transmission conductor products market in Africa and the Middle East, according to the media statement.
Sterlite's export sales for its power conductors accounted for about 35 percent of total revenues from sale of its power conductor products over the period of nine months in fiscal 2007-08 alone, the company said.
The company has also managed to have a complete range of power transmission conductors at extra high voltages (400-800 kV), high voltages (66-220 kV) and power distribution conductors (11-33 kV).
At home, the company currently supplies about 27 percent of the total demand for power transmission and distribution conductors.
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The company presently has a cumulative manufacturing capacity of 115,000 metric tonnes, making it the largest manufacturer in India and amongst the top five global manufacturers of power conductors.
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