Runaya has set up a fiber reinforced plastic (FRP) rod manufacturing plant in Silvassa, aiming to take advantage of the growing need for fiber optic cables in the telecommunications industry.
FRP rods are an integral part of the telecommunications industry and are used to provide structural strength and protection to fiber optic cables (OFC). The need and demand for FRP rods is expected to increase dramatically with the advent of 5G technology and its penetration and expansion in India. The plant has a production capacity of one million kilometers of FRP bars per year.
Target income of 100 cr.
In addition to meeting domestic demand, Runaya will also reach out to major global OEMs (original equipment manufacturers) and produce locally for the global market.
Runaya is targeting 100 crore revenue for the FRP plant at current full capacity and plans to double the plant’s capacity next year.
Naivedya Agarwal, Co-Founder of Runaya, said, “The deployment of 5G technology will accelerate the demand for fiber optic cables and we expect huge market and demand for our product. We also see immense potential in the alternative use of FRP in other sectors such as energy, automotive and construction, replacing conventional materials.
Main customers of Runaya include Sterlite, Apar Industries, etc. who have laid fiber optics for telecom operators for connectivity. At present, around 15-20 million kilometers of FRP rods are made in India, Runaya aims to capture around 12% of this market share.