Sterlite Power has acquired a 64.98 percent stake in Maharashtra Transmission Communication Infrastructure Limited (MTCIL) a joint venture between Sterlite Technologies Limited and Maharashtra State Electricity Transmission Company Limited (MSETCL).
Sterlite Power acquired this equity stake from Sterlite Technologies Limited (STL).
MTCIL is a Public Private Partnership for OPGW (Optical Ground Wire) Fiber networks operating on a boom (build, own, operate and maintain) 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.
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.”
Sterlite Power intends to replicate the PPP OPGW model in other parts of the country. “Such large-scale OPGW fiber roll-out is essential to achieve the ‘Digital India’ vision aimed at transforming the country into a digitally empowered society and knowledge economy,” added Agarwal.