Sierra Starts Joint Venture In Fiji To Manufacture Power Cables

Sri Lanka's Sierra Cables has decided to jointly invest in a new power cable manufacturing plant in Fiji, the company said in a stock exchange filing.

Sierra Cables said it entered the joint venture agreement with three Fijian companies namely Vinod Patel & Co. Ltd, RC Manubhai & Co. Ltd and Progressive Investments Ltd on 13th October 2016.

The total investment of the project is 4 million Fijian dollars and Sierra Cables intends to fund 30 percent whilst contributing with its technical expertise and market know how.

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