Benya Cables, a subsidiary of Benya Group, signed a facility agreement worth EGP 481 million with Banque Misr on the sidelines of the Cairo ICT exhibition.
The facility will be used to finance the establishment of the largest fibre-optic cable factory in Egypt at the highest level over an area of 40,000 square metres in the Suez Canal Economic Zone, according to an official statement.
The project is set to meet the demand for fibre optic-cable products in Egypt and the Middle East and Africa (MEA) region.
Benya group operates across various ICT verticals, offering a wealth of products, services and digital solutions. The Group’s portfolio includes telecommunication services, cloud, security solutions and data centers, as well as manufacturing technology-based solutions and systems integration.