Kemet Industries Group has signed a memorandum of understanding with Al Qalaa Red Flag, a joint Emirati-Chinese firm, to invest up to $3.5 billion in three major industrial projects in Egypt. One of the projects will focus on manufacturing optical fiber cables, supporting Egypt’s rapid digital transformation.
According to a joint press release, all three projects will be located in the Ain Sokhna Industrial Zone, part of the Suez Canal Economic Zone (SCZONE). The planned fiber optic manufacturing plant will strengthen Egypt’s growing digital infrastructure sector, enabling faster and more efficient high-speed networks to meet global connectivity demands.
Egypt already hosts several key players in the fiber optic market. The Elsewedy Communications Cables Factory, located in 10th of Ramadan City, opened earlier this year and is one of the largest telecom cable production sites in Egypt and the Middle East. It produces both fiber optic and copper communications cables, supporting the country’s leadership in regional telecom manufacturing.
Another major industry participant is Benya Cables, a subsidiary of the Benya Group. Working in partnership with the Arab Organization for Industrialization and other global technology partners, Benya operates a fiber optic facility driven by local expertise and international collaboration.
Al Qalaa Red Flag operates as a consortium with Emirati and Chinese ownership, focusing on strategic industrial investments across Egypt. In addition to the fiber optic project, the group plans to launch two more mega industrial projects—a steel pipe factory and a tire manufacturing plant—further boosting Egypt’s manufacturing and export capacity.