SCZONE, Hengtong sign $18M optical cables investment agreement



Wed, 18 Oct 2023 - 05:25 GMT


Wed, 18 Oct 2023 - 05:25 GMT

CAIRO - 18 October 2023: Egypt’s SCZONE and China’s Hengtong sign agreement to expand the Chinese company’s factory in the in the China-Egypt TEDA zone. The factory will produce two million kilometres of optic cables annually with $18 million in investments.

Through this expansion, an area of 21,000 square meters will be added to Hengtong’s factory in the Sokhna Industrial Zone.

The first phase of Hengtong’s factory in the China-Egypt TEDA at SCZONE opened in March 2023 with investments worth $6 million.

The agreement will cover and support the needs of the local market and national projects and provide them with this type of cable such as the Hayah Karima project and Telecom Egypt.

Egypt signed different agreements and letters of intent with Chinese companies Madbouly's visit to China to attend the third Belt and Road Forum for International Cooperation, earlier this week.

Egypt signed multiple framework agreements during the forum’s first day, with a total investment of $14.75 billion at the time of writing.




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