Sterlite business unit plans IPO, plans to use funds to launch new cable facility
Sterlite Electric Ltd., the products and solutions arm of India’s Sterlite group, plans an IPO of about $180 million to fund a new power cable factory in Vadodara, Gujarat, cut debt, and back global expansion, including growing supply to U.S. utilities seeking advanced conductors and grid components. The offer will total roughly 15.6 million shares, split between fresh issuance and an offer for sale, with at least 75% reserved for institutional investors as Sterlite Electric sharpens its position in high‑voltage conductors, HVAC/HVDC cables, and OPGW for more than 70 export markets.
Nexans secures €250 million from EIB for projects that include new plant in France
Nexans has secured €250 million in financing from the European Investment Bank, with over €90 million dedicated to a new copper production and recycling plant at its historic Lens site that will lift wire output by more than 50% and recycle up to 80,000 metric tons of copper annually by 2028. The Lens facility, already France’s only copper rod foundry, is central to France 2030 and REPowerEU goals and will increasingly supply Nexans’ cable output with on-site recycled copper while additional EIB funds support upgrades at other European plants for offshore wind, interconnectors, and low‑carbon cables.
Taihan wins 2 cable contracts from Qatar
Taihan has secured two extra-high voltage, full turn-key power grid projects in Qatar worth about 160 million dollars, covering design, manufacturing, installation, and testing of 400 kV and 220 kV networks for Kahramaa. The wins highlight Qatar’s demanding technical standards and Taihan’s growing Middle East presence.
CTC Global CEO reaffirms its commitment to further India’s growth at 2025 summit
CTC Global reaffirmed its long-term commitment to India’s power sector at the 2025 Economic Times Energy Leadership Summit in New Delhi, where CEO J.D. Sitton spotlighted the launch of its fifth ACCC® Conductor Core manufacturing facility in Pune. Over 200 ACCC installations have been completed across 22 Indian states and two territories, with partners Sterlite Power, Gupta Power, and Apar Industries delivering over 18,000 km of conductors. CTC operates manufacturing facilities worldwide, helping modernize grids and support India’s clean energy transition with deepening local partnerships.
Nexans to acquire Canadian manufacturer
Nexans has signed an agreement to acquire 100% of Electro Cables Inc., a leading Canadian low-voltage cable manufacturer based in Trenton, Ontario. The all-cash deal, valued at approximately €125 million, will bolster Nexans’ position in Canada’s electrification market. Electro Cables’ two sites and 200-person team serve fast-growing sectors such as infrastructure, renewables, and healthcare, with certified products meeting multiple international standards. Closing of the transaction is expected in the first half of 2026, pending regulatory approval.