HFCL Ltd bags order worth Rs 67 cr for supplying OFCs
HFCL Limited has procured a new order worth Rs 67 crore for supply of Optical Fiber Cables (OFC), from a leading domestic telecom service provider in India, it said in a statement Monday.
To be executed by April 2024, the order requires HFCL to supply multiple types of optical fiber cables as per customer specifications.
«There is growing demand for OFCs as India is on a significant digitization drive with its national priorities like fiberisation under BharatNet programme, and rollout of 4G, 5G networks by telecom operators.
The recent Cabinet approval for an additional ₹1.39 lakh Crores for the ambitious BharatNet project to provide rural broadband connectivity will further boost the demand for Optical Fiber Cables in the country,» the firm said in the statement.
The company recently announced expanding its optic fiber capacity from existing 12 million fkm to 33 million fkm, and high-quality optical fiber cable capacity from 25 million fkm to 35 million fkm by March 2025.
The company claims to command more than 50% market share in India for OFC in FY23.
HFCL aims to cater to evolving customer needs in the Indian and global markets on the back of its indigenous innovation and R&D capabilities.
HFCL also recently launched the 1728-high fibre count IBR cable during IMC 2023 to accelerate 5G network infrastructure installation, expansion of FTTH capabilities and meet the rising demand from data centres, it added.
