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SCZone Signs Agreement with Chinese "Hengtong" to Produce Optical Cables with Investments worth $18m


Wed 18 Oct 2023 | 11:56 PM
Taarek Refaat

Walid Gamal El-Din, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone) signed an agreement with the Chinese company "Hengtong" to establish expansions of their project in Sokhna, which produces optical cables with an annual design capacity of up to 2 million core kilometers, in the TEDA-Egypt Industrial Zone.

This came on the sidelines of the SCZone chairman in the Belt and Road Forum.

This investment agreement aims for new expansions for the company that contribute to fulfilling contracts on manufacturing optical cables, ODN manufacturing, optical communications engineering, OPGW, contracting services for wire manufacturing and energy engineering, as well as services for operating and maintaining submarine optical cables.

These expansions are in addition to the company's current factory in the industrial zone in Sokhna, which was inspected and inaugurated by the Egyptian Prime Minister last March, as part of the opening of Chinese factories inside TEDA-Egypt with huge and diverse investments in several industrial sectors.

In this context, the head of the Suez Canal Economic Zone stated that the agreement aims to establish new expansions with investments of $18 million on an area of 21,000 sqm, as it aims to cover the needs of the local market and that of a number of national projects, specifically the "Decent Life" Initiative projects, and the Egyptian Telecom Company.

Hengtong is considered one of the 4 largest companies in the world for producing cables specialized in international communications.