Sterlite Tech to invest USD 100 mn to strengthen manufacturing capacity in US

Broadband technology company Sterlite Technologies plans to invest up to USD 100 million in the US to strengthen its manufacturing capacity for AI data centres and telecom customers, the company said on Wednesday.

The announcement was made by the company at the federal programme SelectUSA Investment Summit in Maryland.

"Sterlite Technologies Ltd (STL) announced to invest up to USD 100 million in the United States to offer connectivity solutions, including terminated optical fibre cables. This investment is expected to strengthen its manufacturing capacity for AI data centres and telecom customers in the US," a statement said.

The SelectUSA Investment Summit is a 4-day event that promotes the US as a premier investment destination, connecting multinational companies with US economic development organisations to facilitate business investment and job creation.

STL has agreements with major customers in the US to fulfil their high-speed optical connectivity and data centre requirements.

"This investment is also expected to create 400-500 jobs," the statement said.

STL CEO Rahul Puri said that the investment will ensure that the infrastructure required to build a strong AI backbone behind global intelligence is scalable and reliable.

"By owning the entire value chain, from glass to data centre portfolio, we are excited to enable our customers to build the physical foundation for the AI era," he said.