On March 6, local time in Cairo, the optical cable plant jointly established by Jiangsu Hengtong Optoelectronics Co., Ltd. and Egypt's Hitek NOFAL Group, was held in the Bael Industrial City in Cairo, capital of Egypt, and it became the first local fiber optic cable factory in Egypt. Minister of Information Technology Yasser Cardi, Commercial Counselor of the Chinese Embassy in Egypt, Han Bing, Executive Director of Hengtong Group, and Qian Jianlin, Chairman of Hengtong Optoelectronics attended the opening ceremony.
It is reported that the joint venture factory covers an area of 33,000 square meters, the first phase of the investment is about 15 million US dollars, the production capacity is 1 million core kilometers, and is expected to reach 2 million core kilometers by the end of this year.
'The entrance of Hengtong will bring profound changes to Egypt!' Yasser Qadi stated that the Egyptian government is planning a total of 16 new cities, including the new administrative capital, which will require the construction of a large number of information and communications infrastructure. The important link is that the establishment of a joint venture plant between HitekNOFAL and Hengtong will change Egypt, boost Egypt's acceleration into the digital society, and it is also expected to achieve exports to African and Middle Eastern countries in the future.
Qian Jianlin pointed out that Egypt is an important country along the 'Belt and Road' strategic location. In recent years, the investment environment has continued to improve, and the information and communication infrastructure has developed rapidly. Hengtong has set up a joint venture with an Egyptian partner to help Egypt realize fiber-optic cable production. At the same time, it will also assist the Egyptian side in cultivating a group of localized talents to help Egypt's telecommunications communications industry achieve sustainable development. In the future, Hengtong also plans to introduce high-end technologies such as optical fiber drawing towers into Egyptian joint venture factories.
The CEO of HitekNOFAL Mohamed Nofale stated that the demand for fiber optic cable in the Egyptian market is increasing year by year, and is still mainly dependent on imports. The establishment of a joint venture plant of Hitek NOFAL and Hengtong is expected to meet about 80% of domestic demand this year. Demand and achieve exports in the middle of 2019.
Qian Jianlin accepts interviews with local Egyptian media
According to international studies, Egypt’s optical fiber market will grow to US$9 billion by 2023. Hengtong Optoelectronics’ investment in the construction of fiber optic cable factories in Egypt is the company’s further expansion of its globalisation and the acceleration of the national market along the “Belt and Road” initiative. An important measure to further extend and develop the company's fiber optic cable industry chain. The opening of this Egyptian joint venture company signifies that Hengtong's business operations in Egypt are entering a new strategic investment phase and has also opened up a new process of prospering the global industrial layout.
According to reports, the cooperation between Hengtong and Egypt can be traced back to 2011. At that time, the political situation in Egypt was turbulent. The prosperous market personnel overcame many difficulties and persisted in staying to open up the market. A year later, Hengtong became the only Chinese company to enter the telecom market in Egypt. 2014 In 2007, Hengtong won the bid for the optical fiber communication network project of the Egyptian Presidential Palace. Two large Egyptian military transport planes came to China for delivery. The Ministry of Foreign Affairs, the Ministry of National Defense, and the Ministry of Commerce of the People's Republic of China approved the three shipments in a timely manner to support the timely shipment of Hengtong as a private company; July 2015 Hengtong once again made efforts to send technical R&D engineers to Egypt’s Assiut section of the Nile River in Egypt to help Egypt Telecom successfully lay a submarine cable in the Nile. Hengtong’s independent R&D strength, product quality and comprehensive services have enabled Egypt Telecom Recognition.
Look at the world map as a company and go out along the “Belt and Road”. Hengtong focuses on telecommunications, electricity, two major industries, the layout of optical fiber optical network, power grid, new energy materials and automotive support, marine communications and energy operations and other industries, and vigorously promote The Group's international operation layout has established production and R&D bases in South Africa, Portugal, Spain, Brazil, Indonesia, India and other countries, established marketing technology service branches in more than 30 countries and regions, and registered overseas trademarks in 119 countries and regions. , The business covers more than 130 countries and regions. Hengtong's optical fiber network products have accounted for 15% of the global market, ranking among the top three optical fiber manufacturers in the world and winning the right to speak for China in the world of optical fiber Internet.