Yangtze Optical Fibre and Cable Joint Stock Limited Company (stock code: 06869. HK, hereinafter referred to as “YOFC”) received a good news again. After Indonesia PT Fibre OptikTeknologi Indonesia has signed an agreement to establish a joint venture optical cable manufacturing company in Singapore on 4th January, 2017, the project cornerstone laying ceremony of PT Yangtze Optics Indonesia was held in Karawang, West Java, Indonesia on 18th May. Chairman of Indonesia Communications Association Kristiono, leader of West Java Province AgusSokiono, first vice president of YOFC Jan Bongaerts, Indonesian shareholder of PT Yangtze Optics Indonesia Johnny, general manager of PT Yangtze Optics Indonesia XU Dingfang, general manager PT Yangzte Optical Fibre Indonesia CHEN Huixiong, etc. also participated in such ceremony.

PT Yangtze Optics Indonesia, headquartered in Jakarta Indonesia, is the second joint venture enterprise after PT Yangzte Optical Fibre Indonesia which was invested by YOFC in Indonesia in January 2015. Its plant is located in Karawang, West Java. After the project is built up, its annual production capacity of optical cable is up to 2,000,000 core kilometers. YOFC has invested 22,000,000 USD into PT Yangzte Optical Fibre Indonesia and 14,000,000 USD into PT Fibre OptikTeknologi Indonesia. Up to now, YOFC’s gross investment in Indonesia has exceeded 36,000,000 USD.

In response to “the Belt and Road” Initiative, the listed YOFC has accelerated its layout of globalization. PT Yangtze Optics Indonesia is a milestone for YOFC to march towards the world, marking that YOFC has accelerated its strategy of internationalization and globalization. Indonesia, with a population of 260,000,000, is the world’s fourth largest country in terms of population. In recent years, Indonesia was stable in political situation and economic development. Indonesia government has launched national broadband plan to boost the development of internet and broadband sharply. Therefore, it can be expected that Indonesia will come to its climax of building the optical networks, with huge market demands on optical fibres and cables. The establishment of PT Yangtze Optics Indonesia will complete YOFC’s closed loop of optical fibre and cable industry in Indonesia. Based on integrating the shareholders’ resources, the new company will be rooted in Indonesia and radiated towards surrounding countries and regions, and is to be one of most influential manufacturers of optical cable in Indonesia and ASEAN region.