Executives of Saudi Arabia’s Middle East Fiber Cable manufacturing Company (MEFC) stated that the firm would double its fiber-optic production by mid-2002, according to Arab News. The company’s General Manager, Hashim Al-Hunaidi, maintained that export revenues of the firm had reached eight million Saudi riyals ($2.1 million) compared with one million SR in 1998.
Al-Hunaidi added that Saudi Arabia had become a net exporter of fiber optic cables due to a worldwide shortage, and that MEFC currently had a 60 to 70 percent hold in the local Saudi market.
The Saudi Telcom Company (STC), said Al-Hunaidi, was due to expand its operations in the near future. As a result, it will need approximately 4,000 kilometers of fiber optic cables annually, a significant boost for MEFC.
The Riyadh based company presently exports fiber optics to various countries across the globe, including the United States and the European Union. MEFC’s plan to double its output by next year is part of a company campaign to increase its share in European markets. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
