PNN
Mumbai (Maharashtra) [India], July 8: Shera Energy Limited (NSE Code: SHERA), a prominent manufacturer of winding wires and strips made of non-ferrous metals, has announced a significant milestone in its expansion into the African market with the receipt of its first export order from Zambia.
The company has secured a contract valued at USD 87,000 for the supply of conductors, marking its inaugural venture into the African continent. This achievement underscores Shera Energy's commitment to delivering high-quality products and services to new regions and highlights its growing reach in Africa.
With numerous infrastructure projects in the pipeline in Zambia and Shera Energy's strategic presence there through its subsidiary, the company anticipates a substantial boost to its export business. This breakthrough is expected to add approximately Rs60 crores to its export business for FY25.
Shera Energy is poised to build strong and lasting relationships with partners in Zambia and other African countries as it continues to expand its footprint and deliver innovative solutions to meet the region's needs. The company is in continuous dialogue with electrical utilities to provide solutions for refurbishing unserviceable transformers.
Commenting on the, Naseem Shaikh, Chairman and Managing Director, Shera Energy Limited said, "We are delighted to secure our first export order from Zambia, marking a pivotal moment in our international expansion. This order underscores our commitment to delivering high-quality conductors and highlights our strategic entry into the African market.
With numerous infrastructure projects in Zambia, we anticipate a significant boost to our export business, expecting an addition of approximately Rs60 crores for this financial year.
We are dedicated to building strong relationships in Zambia and other African countries, providing innovative solutions to meet regional needs. This milestone reflects our team's hard work, and we look forward to continued growth and success."
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