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According to 4iG, the deal will capture a large share of the rapidly growing data traffic market between Asia, East Africa, and Europe
Telecom Egypt and Hungary-based telecoms group 4iG have signed the terms of cooperation on a joint venture to build a subsea cable between Albania and Egypt. The deal, which was first announced last October through the signing of a Memorandum of Understanding, will see the creation of to the first every subsea cable linking the two countries.
The cable will create a high-capacity intercontinental connection linking Africa and Asia to Europe via Egypt and the Red Sea, and onwards to the Mediterranean. As well as Albania, the cable will also include a branch to Italy, with the option to extend the cable to other Mediterranean destinations such as Greece and Cyprus.
“Our strong market presence in Albania gives us the opportunity to make the additional onshore investments necessary for the success of the project and to open a new data gateway to Europe in cooperation with Telecom Egypt,” said 4iG Group Chairman Gellért Jászai.
Egypt’s Minister of Communications and Information Technology, Dr. Amr Talaat, who was present at the signing, emphasised that Egypt desires to grow its international digital infrastructure capacity, given that more than 90% of international data traffic between East and West passes through the country.
“Work is underway to establish another five international subsea cables through international alliances,” he continued.
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