Universal Cables Ltd has entered into another massive expansion project by inducing Rs 90 crore.

This latest move by the company is in view of the growing demand in extra high voltage power cables.

The company will make medium-voltage and extra high-voltage cables in its existing Satna unit, in which it has recently completed Rs 63 crore investment.

The source close to the company say, “The project activities are in full swing and commencement of commercial production is expected in the third quarter of the next fiscal.”

The reports also revealed that Universal Cables Ltd has imported machines from China for the proposed expansion project.

Commenting on the project, Mr. RS Lodha, chairman of Universal Cables Ltd said, “The enhanced coverage through fibre networks globally, would result in firming up of demand for the optical fibre segment of the company, which is poised to deliver improved performance sequentially.”

Universal Cables Ltd is a leading manufacturer of power and control cables, capacitors, and telecommunication grade optical fibre.

The company has posted handsome results for the quarter ending June 08 in which it has registered  a turnover of Rs 143.51 crore for  June 08 quarter as compared to Rs. 134.78 crore in the same period year ago.

Recently in technical collaboration with The Furukawa Electric Corporation Ltd., Japan, the company has achieved success in making 220 kV XLPE cables using VCV process.

Furukawa Electric Corporation Ltd is a world leader in cable manufacturing.

Stock of Universal Cables closed at Rs 67, up 3.92 per cent on National Stock Exchange ( NSE). The total volume of shares traded on NSE was 4,409.