Finolex Cables signed an MoU (Memorandum of Understanding) with the Maharashtra Government with an estimated investment of INR 580 Crore towards the expansion of its optic fibre cable operations. The company anticipates a surge in demand due to the nationwide rollout of 5G and the growing need for fibre-to-home connectivity.
Finolex Cables currently has a fibre drawing capacity of 40 Lakh Fibre Km per year and a cabling capacity of 80 Lakh Fibre Km per year. The company aims to double its production capacity to 80 Lakh Fibre Km per year and fibre optic cables’ annual capacity to 1 Crore Fibre Km per year.
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The government of Maharashtra, through the MoU, has committed to supporting Finolex in obtaining all necessary registrations and approvals from the respective state departments. The company has also opened an EPC division for executing orders for laying fibre-optic cable networks in various locations across the country.
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