QUITO - Ecuador's Vice President Jorge Glas has inaugurated Ecuador's first fiber-optic cable, built with Chinese assistance, in the southern province of Guayas.

The plant, named Latamfiberhome, is the result of a joint venture by Ecuador's Holding Telconet and China's Fiberhome Technologies.

"With the infrastructure ready, we only need to begin using the plan to set up the brilliant future which awaits us," said Holding Telconet's Executive President Tomislav Topic, at the plant's opening ceremony Tuesday.

Glas said this plant "strengthens cooperation between China and Ecuador," helping to change the country's production matrix.

"Starting from today, we will be able to export fiber-optic cables made in Ecuador, with Ecuadorian talent and manpower as well as Chinese technology," added Glas.

Wang Yulin, China's ambassador to Ecuador, and leading Ecuadorian government figures were also in attendance.

The plant is projected to manufacture 1 million kilometers of fiber-optic cable a year once it is fully operational in 2019.

Ecuador, which currently imports cables worth around $15 million a year, estimates that it will export cables worth $20 million a year.