Sino-Egyptian joint venture established Egypt's first fiber optic cable factory
Zhongxin News Suzhou, China, March 13th: On the 13th, March, reporter learned from Jiangsu Hengtong Optoelectronics Co., Ltd. (“Hengtong Group”) that the company had held a opening ceremony for new fiber cable plant on the 6th of that month in the Bader Industrial City, Cairo, Egypt. The plant is a joint venture with Egyptian Hitek NOFAL Group and is the first fiber optic cable factory in Egypt.
Qian Jianlin, executive chairman of Hengtong Group, stated that the African market is the world’s fastest growing market in the field of optical fiber. International studies estimate that by 2023, the Egyptian optical fiber market alone will grow to $9 billion. The establishment of a factory in Egypt can promote the development of the national market along the “Belt and Road Initiative” in the Middle East, and will further extend and develop the company's optical fiber cable industry chain.
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