Indian telecom and cable manufacturer Sterlite Technologies will reportedly create a joint venture with Brazilian low-voltage copper and aluminum cable supplier Conduspar Condutores Eletricos Ltda to produce fiber-optic cables, according to cablinginstall.com's sister site, Lightwave. The 50/50 venture will set up shop in a greenfield facility in Curitiba within the Brazilian state of Parana.
"We are very excited at the prospect of partnering with the Sterlite group,” comments Andre Abage, CEO and promoter of Conduspar. “With Sterlite's technology and expertise in the telecom cable domain and Conduspar's local presence, we will create a formidable brand in this market."
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The two companies hope that commercial fiber cable production will begin in the first quarter of fiscal 2015. Sterlite characterizes Latin America as one of the fastest growing markets for fiber cable, with an annual demand of more than 10 million fiber km.
"Latin America is an important market for us from a growth perspective and we are pleased to have this joint venture with a strong and reputed partner like Conduspar," concludes Pravin Agarwal, whole-time director at Sterlite. "Both companies share a common vision and bring together complementary strengths for this venture."
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