Another agreement with the same company involves setting up an investment fund with an initial capital of $300 million, where the Chinese company will finance more than 80% of the fund, alongside Egyptian investors.
Minister of Communications and Information Technology,Amr Talaat, announced that the ministry has signed five agreements with major Chinese companies to establish significant projects in Egypt in the coming period.
Among these, two agreements involve the creation of new factories dedicated to the production of fiber optic cables, with an annual production capacity of 3 million core kilometers per factory.
Half of this production will be allocated to the local market, while the other half will be exported to neighboring markets.
The remaining three agreements were signed with Chinese companies to establish and expand outsourcing centers in Egypt.
Talaat, during a press conference on the sidelines of his participation in the first edition of the Global Digital Public Infrastructure Summit (DPI), clarified that the aim of localizing the fiber optic cable industry and increasing local production is to meet the country’s needs for these cables, replacing copper cables.
This change is expected to enhance the quality of services provided to citizens and support the government’s digital transformation plan.
An agreement was signed with Huawei to expand an existing outsourcing center that currently employs 800 specialists, with plans to double this number within two years.
The second outsourcing agreement is with Tsinghua Unigroup, a leading company in several high-value sectors within telecommunications and IT.
This company will establish a new outsourcing center focusing on the design of electrical circuits and semiconductors, both of which are high-value specializations.
Another agreement with the same company involves setting up an investment fund with an initial capital of $300 million, where the Chinese company will finance more than 80% of the fund, alongside Egyptian investors.
