NEW DELHI: Homegrown telecom equipment manufacturer HFCL on Wednesday announced the setting up of a state-of-the-art OFC (optical fiber cable) manufacturing plant in Poland with an investment of Rs 144 crore.
It said this marks a major milestone in the company’s global expansion strategy, aimed at addressing the increasing demand for OFC in European markets like the UK, Germany, Belgium, France, Poland, etc. The plant will be facilitated through incorporation of a new stepdown subsidiary in Poland under HFCL B.V., a wholly-owned subsidiary of the company in the Netherlands.
“With Europe expected to remain a key market for optical fiber cable-led communication, our foray into Poland not only ensures unfettered access to this growing European market but also helps improve agility and responsiveness in catering to the increasing optical fiber cable demands of our customers. With this strategic expansion, we are poised to align with Europe’s vision, which anticipates gigabit connectivity as a cornerstone of its future,” said Mahendra Nahata, MD, HFCL.
The company is also planning to ramp up the share of exports in its OFC vertical revenue from the current 30% to 70% within the next 4–5 years. According to the company, Europe, with its promising growth prospects, particularly stands out as a focal point for HFCL’s strategic initiatives.