Sterlite Technologies, a leading global provider of transmission solutions for the power and telecom industries, has entered into a Joint-Venture (JV) agreement with VISCAS Corporation, a leading Japanese company specialized in providing power transmission and distribution systems solutions globally. As part of this JV agreement, VISCAS Japan will invest into the existing Power cable facility of Sterlite in Haridwar which is already serving the MV/HV Power Cables customers in India.
This venture is an important milestone in sustaining Sterlite’s leadership in power transmission & distribution sector with an objective of addressing the growing extra high voltage underground power cabling requirements in India. It also strengthens the unique positioning of Sterlite, in offering integrated Overhead, Underground transmission & distribution networks with smart grid enablers as OPGW/ communication products.
The closure of the transaction would be subject to necessary approvals. Axis Capital acted as sole financial advisor to Sterlite Technologies.
