Egyptian ICT infrastructure provider Benya Capital recently has signed a contract with the Arab Organisation for Industrialisation (AOI) to establish what was described as the largest fiber-optic cable factory in the Middle East and Africa (MEA).

A press release said that the plant, expected to cost over EGP 1 billion, will be built on a large site at the Suez Canal Economic Zone (SCZone). A tripartite Memorandum of Understanding (MoU) was signed by the AOI, Benya Capital (formerly known as Fiber Misr) and the Arab Academy for Science, Technology, and Maritime Transport (AASTMT).

The three entities will team up for Artificial Intelligence (AI) projects and training in installation, and operation and maintenance of fiber networks. AOI chairperson Abdel Moneim Al-Tarras said the factory will provide many job opportunities for young engineers and technicians, as well as training in the latest fiber-optic cable technologies. He said that the AOI aims to establish a national industry that meets local market needs in terms of communications infrastructure. It will also serve Egypt’s new development projects and smart cities, in addition to opening export markets in the MEA region.