Egypt's SCZONE, China's Hengtong To Expand Factory with $18 Mln Deal

Egypt's Suez Canal Economic Zone (SCZONE) and China's Hengtong, a fiber optic cable manufacturing company, have inked an agreement to expand the Chinese company's factory in the China-Egypt TEDA zone. With an $18 million investment, the factory will have the capacity to produce two million kilometers of optic cables annually. The expansion will add 21,000 square meters to Hengtong's facility in the Sokhna Industrial Zone, following the opening of the first phase in March 2023, which involved an investment of $6 million.

This partnership is aimed at meeting the local market and national project demands for this cable, including the Hayah Karima project and Telecom Egypt's needs. Egypt has recently entered into various agreements with Chinese companies during its participation in the third Belt and Road Forum for International Cooperation.