Sterlite Technologies plans to invest about Rs 3.1 billion to expand capacity by FY12, its chief executive officer said on Monday.
The company also received a letter of intent for a power transmission project from state-run Power Finance Corp, Anand Agarwal said.
"We are in the process of finalising all that (details)...We have six months for the financial closure of the project," Agarwal told Reuters over the telephone.
The private transmission project will connect north-eastern and eastern region of the country by a 440 kV, 800 km project on a build-own-operate-transfer (BOOT) basis, he said.
Source: ReutersCourtesy moneycontrol.com
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