Press Release
Tamares Telecom, a leading fiber-based international communications and data service provider and network operator, a subsidiary of Aluma Infrastructure Fund and Grid Telecom, a wholly owned subsidiary, and the telecommunications vehicle of the Independent Power Transmission Operator (IPTO) of Greece, agreed to build ANDROMEDA, a subsea optical fibre cable system connecting Greece, Cyprus, and Israel.
The strategic partnership between Grid Telecom and Tamares Telecom for ANDROMEDA will bring advanced data transport solutions, to create a new telecommunications corridor between Europe and the Middle East. Leveraging on the strategic positions of Greece and Israel, the transcontinental fibre cable system will also offer wholesale customers leading edge connectivity and international reach across the European continent, the Mediterranean and the Arabian Peninsula, through the development of an alternative international digital highway that is much needed by the regional economy.
Emerging as the prime wholesaler in the Greek market, Grid Telecom exploits IPTO’s extensive optical network in Greece and neighboring countries and integrates it with its own fibre links and Points-of-Presence, to achieve network diversity, maximum security, and exceptionally low latency while creating a new carrier neutral, open-access, connectivity hub in the region.
Tamares Telecom owns and operates TAMARES-NORTH, a high-capacity subsea cable system between Israel and Cyprus, with extensions to multiple international destinations, providing customised communication and cloud infrastructure solutions and services. The strategic agreement with Grid Telecom for ANDROMEDA is in line with Tamares Telecom’s strategy of strengthening its infrastructure, expanding its international network, and increasing its entry points to Europe by providing an eastern gateway via Greece through the new cable system.
The ANDROMEDA system will connect Israel, Cyprus, and Greece through an alternative low latency path between Europe and the Middle East, extending through additional subsea and terrestrial links westwards to the Balkans and important destinations in Central and Western Europe, and eastwards to the Arabian Peninsula and other destinations.
“Tamares Telecom is continuously developing and extending its national and international infrastructure. Our collaboration with Grid Telecom to build and operate the ANDROMEDA system will add explicit value to our robust reach in Europe and the Middle East. Our investments in new infrastructure projects and solutions reiterate our leading position thanks to the multiple layers of our infrastructure diversity, which include establishing new subsea cable systems and crossing routes that will cater for the rising market demand for high quality bandwidth data transport, through an alternative telecommunications bridge between East and West,” said Ori Yogev, Chairman of Aluma Infrastructure Fund.
“IPTO is building critical infrastructure for tomorrow’s electricity and telecommunications backbone networks throughout Greece and beyond, contributing to Greece’s transformation into a critical energy and data hub of high geopolitical value at the crossroads of Europe, Africa and Asia. In this context, the fact that Israel is fast developing into a key international telecommunications hub in the Middle East, creates strong synergies and win-win business opportunities. We are very pleased that the cooperation between IPTO’s subsidiary, Grid Telecom, and Aluma’s subsidiary, Tamares Telecom, has culminated in the agreement to build the ANDROMEDA subsea cable system, bringing a new international route that will enhance the strategic role of Greece as a neutral open-access connectivity node in the broader Balkans – Mediterranean region,” said Manos Manousakis, the Chairman and CEO of IPTO.
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