Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC), a Hong Kong Stock Exchange-listed supplier in the telecoms optical fibre cable industry, is to invest R150 million in South Africa to set up a fibre cable manufacturing plant. By Staff Writer
The China-based firm has set up its Yangtze Optical Fibre (Africa) subsidiary in Johannesburg.
It is planning to build an optical fibre cable manufacturing plant with warehouse facilities in the Dube Tradeport Special Economic Zone of Durban with an initial investment of approximately R150 million and an annual capacity of up to 1,000,000 FKm (fibre kilometres).
The South African telecoms market is experiencing continuous growth due to deregulation, increasing demand for broadband services and the government’s policy to connect residences.
YOFC says it is launching its new facility in order to reinforce its competitive position and benefit from the growing optical fibre cable market in South Africa and Africa.
“South Africa and Africa offer considerable scope for development in all telecoms sectors in the near future, with broadband internet subscribers constantly growing in years to come,” said Zhuang Dan, CEO of YOFC. “Investments in this area are therefore key to help YOFC to be ready to answer to the consequent increase in market demand and to support its customers in the region.”