Oman Fiber invests USD33.62m on plant

(MENAFN) Oman Fiber Optic announced it is planning to invest USD33.62 million on the construction of two plants for the manufacturing of fiber optic cables, with one having an installed capacity to produce 14.000-18.000 kilometers of cable and another for the manufacture of 1.6 million fiber kilometers per year, Times of Oman reported.

The pioneer fiber optic cable manufacturer said that the first plant is expected to be commissioned by November of this year, adding that it is also planning to invest in other facilities as well.

The company, which used to produce 350.000 fiber kilometers per year, said that it will also be building a new headquarters and warehouse after a fire destroyed their plant last year, with the company planning to sell 35 per cent of its output in the domestic market, with the remaining 65 per cent for export markets.