HFCL Ltd (HFCL) has announced expansion into Europe with the setting up of an optical fibre cable (OFC) manufacturing plant in Poland.
The company has said in its statement that HFCL plans to ramp up its share of exports in its OFC vertical revenue from the current 30 per cent to 70 per cent within the next 4-5 years.
The manufacturing plant in Poland will begin with a capacity of 3.25 mn fkm and scalable up to 7 mn fkm, with initial capital outlay up to ₹144 crore, fulfilling increasing OFC demand.
The establishment of the manufacturing facility in Poland will be facilitated through the incorporation of a new step-down subsidiary in Poland under HFCL B.V., a wholly-owned subsidiary of HFCL in the Netherlands.
Mahendra Nahata, Managing Director, HFCL, said, “Our decision to set up a manufacturing unit in Poland underscores our commitment to meeting the evolving needs 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.”
HFCL stock closed 0.77 per cent higher at ₹111.70 on the NSE. The stock had hit a 52-week high today at ₹115.75