Finolex Cables has signed an agreement with the Department of Industries, Government of Maharashtra to invest Rs 580 crore.

This is intended to more than double its optic fibre cables capacity to 10 million fibre km per year, anticipating higher demand for last mile connectivity driven by the nationwide 5G rollout.

This expansion encompasses installation of fibre draw towers and the implementation of backward integration for producing glass pre-forms, crucial in the fibre drawing process.

The proposed upgrade will see the draw tower capacity doubling to eight million fibre km per year, raising the fibre optic cables annual capacity to 10 million fibre km.

The raise from the current capacity of four million fibre km will take place once the commissioning of the new plant which will be solely catering to fibre optic cables.

This expansion will generate employment opportunities directly and indirectly for over 400 persons.

The Maharashtra government will support the company in obtaining necessary registrations and approvals from relevant state departments.