China’s Hengtong to manufacture fiber-optic cables in Egypt

Chinese power and fiber optic cable manufacturer Hengtong will set up a plant in Egypt to produce fiber cable as result of a deal between the Chinese company and the Suez Canal Economic Zone (SCZONE).
Hengtong will invest $18 million for the project with a capacity of up to 2 million kilometers in the zone.
The plant will be built in the TEDA-Egypt zone.
The investment agreement aims to create new expansions for the company that contributes to the fulfillment of contracts in the manufacturing of optical cables, ODN, visual communication engineering, OPGW, wiring and energy engineering contracting services, and offshore optical cables operation and maintenance services, the SCZONE said in a statement.
The Chinese company, according to SCZONE, is currently making an investment of $6 million, on an area of 5904 m² as the first phase.
The phase will generate 100 direct job opportunities. Hengtong is also expected to produce marine cables and provide maintenance services, as well as the “Internet of Things”, big data and E-commerce, as well as starting materials and new energy.