Greek-Egyptian deal on underwater cable

Greek-Egyptian deal on underwater cable

Egypt and Greece signed an agreement on Tuesday to link the two countries by building a submarine cable, the Egyptian cabinet said in a statement.

The deal was signed in Cairo by Telecom Egypt, the first integrated telecommunication operator in the North African country, and Grid Telecom, a subsidiary of the Greek Independent Power Transmission Operator (ADMIE), the statement said.

The new cable is part of a submarine cable system extending across the Mediterranean Sea, it said.

“The agreement serves Telecom Egypt’s vision and expansion strategy to enhance its international infrastructure, expand its networks and multiply access points within the Mediterranean, by opening an eastern gateway to Europe through Greece,” the statement said.

The cable, which will be the shortest way to cross the Mediterranean region to the Balkans and other destinations, will contribute to fostering Egypt’s strategic place as a global center for communications services and data traffic between East and West, the statement added.

“Telecom Egypt’s strategy is based on developing its international network via investing in new submarine cable systems to meet the increasing demand for telecommunications services regionally and around the world,” said Adel Hamed, managing director and CEO of Telecom Egypt. [Xinhua]

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