STL bags deals worth $100 million Middle East and Africa

Data networks integrator Sterlite Technologies Ltd (STL) on Monday announced major new deals and extensions worth 100 million dollars (about Rs 723 crore) to current engagement with leading telecom operators in the Middle East and Africa region, taking its order book to a record high of Rs 11,300 crore.

These contracts range from optical connectivity solutions to network solutions. One large-scale deal is with a leading telco in the United Arab Emirates to advance its 5G, 4G and FTTx network infrastructure through STL’s opticonn solutions, including onshore logistics and warehousing.

Another multi-million dollar digital transformation partnership has been formed with the leading telecommunications group in North Africa which will deploy STL’s digital billing solutions to seven million subscribers across the region.

The company has been focussing on building future-ready digital networks in the region. Since mid-2020, tier-one telcos are investing heavily in building digital networks. STL has expanded its presence in the region with fully 5G-ready opticonn and software solutions.

STL said its end-to-end solutions enable customers to build 5G hyper-scale networks at a fast pace with lower long-term total cost of ownership.

“We are proud to be a part of the progress of the Middle East and Africa,” said Sandeep Girotra, Global Sales Head. “With our deep technology expertise and growing talent base, we will continue to deliver on the full potential of digital networks, providing enhanced experiences to consumers and businesses alike.”

The company has manufacturing facilities in India, Italy, China and Brazil along with two software development centre’s across India and one data centre design facility in the United Kingdom.

At 2 pm, STL’s stock was trading 4.35 per cent higher on BSE Ltd at Rs 216.60 per unit.