Sterlite Technologies Ltd, optic fibre cable manufacturer, is all set to spend around Rs 140 crore to double up its yearly optic fibre capacity to 12 million kms from the existing capacity of 6 million kms.

The recent development would take place at the company’s subsisting plants in Aurangabad, and the commercial production is expected to start by June 2009.

Anand Agarwal, Sterlite’s CEO and Director said, “With the strong outlook by the Indian and Global Optical Fibre Industry, we are poised to take our place within the top five manufacturers in the world and we believe that this capacity expansion would give us the strategic advantage to capitalise on the available opportunities.”

The projected high-tech facility would be able to manufacture products in accordance with international criteria to accommodate to high bandwidth applications.

The company is in advanced stage of discussions with top global equipment makers and raw material suppliers to modernize its growth project.

The company enjoys 45% optic fibres share in the domestic market, and 4% share internationally.