China and Egypt jointly invest in optical fiber factory officially put into operation
China Hengtong Group and Egypt HitekNOFAL Group, a joint venture Fiber Optic Cable plant built on the 6th formally became Egypt's first local optical fiber and cable plant. It is learned that the joint venture factory is located in the capital of Cairo, the outskirts of Badal Industrial City, the first phase of the investment amount of about 15 million US dollars, the annual production of optical fiber cable 1 million core kilometers, is expected to reach 2 million core kilometers by the end of this year. Yarisir Kadi, Egyptian Minister of Communications and Information Technology, and Korean Minister of Commerce, Minister Counselor of the Chinese Embassy in Egypt, attended the commissioning ceremony. Cady said that the Egyptian government is planning to build 16 new cities, including the new administrative capital, and needs a large number of new infrastructures for information and communications infrastructure. Optical cables are one of the most important links. The establishment of a joint venture plant will help Egypt accelerate its access to the digital society and is expected to export to Africa and the Middle East in the future. Qian Jianlin, chief executive of Hengtong Group, said that Egypt is an important country along the "Belt and Road" and enjoys an excellent geographical location. In recent years, the investment environment has been continuously improved.Prosperous and Egypt partners to set up a joint venture factory to help Egypt achieve optical cable localization, but also will help Egypt to train a group of local talents to help Egypt's telecommunications and telecommunications industry to achieve sustainable development. Hengtong Group also plans to introduce advanced technology such as optical fiber drawing tower into the Egyptian joint venture in the future. Established in 1991, Hengtong Group has developed into a national innovative enterprise serving optical fiber optical network, power grid, big data internet, new energy new materials and financial investment. Currently, it has 70 wholly-owned and holding companies.