Cairo – Mubasher: Benya Capital is planning to invest more than EGP 1 billion ($62 million) in the establishment of a fibre optic cable factory at the Suez Canal Economic Zone (SCZone), the company’s chairman and CEO Ahmed Mekky told Reuters on Sunday.
The project, set to be the largest fibre optic cable factory in the MENA region, will be built in partnership with the Arab Organization for Industrialization (AOI) over 50,000 square metres, Mekky added.
The facility, which will be 74%-owned by Benya Capital and 26%-owned by AOI, is expected to produce 4 million kilometres of optical fibres per year.
Benya Capital has an authorised capital of EGP 1 billion and a paid-up capital of EGP 300 million.
The construction works of the project is forecast to begin during the fourth quarter of 2020, while production is expected to start in Q3-21, he noted.
Source: Mubasher
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