Sterlite Technologies strikes ₹35 billion deal to build digital network for Indian Navy
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Sterlite Technologieson Tuesday confirmed it’s ₹35 billion deal with the Indian Navyto create digital networks.
- The project is a long term contract involving designing and managing the network.
- The shares of the company hit over 4% post announcement of the deal.
The multi-year contract comprises the design, construction and maintenance of a high capacity
According to media reports, this will be the first time when such a robust security network is being built on a large scale in India. The network will allow the Indian Navy to get benefits of network virtualisation, big data analytics and easy monitoring of the posts situated at a distance.
The company had already received an advance purchase order in February 2018. Furthermore, it promised to provide advanced security solution embedded with real-time situational awareness to help navy hasten its decision making.
Sterlite Tech is already working with the state-owned BSNL and the Defence Ministry to design a network for spectrum program (NFS). Moreover, it has previously worked on a project involving the creation of intrusion proof smarter networks.
Owing to the deal the shares of Vedanta group’s digital network and telecom solution company jumped over 4% in the stock market today.