CORPORATE NEWS:
Flag to invest $300m in submarine cable system
Reliance Infocomm Ltd, India, the holding company who recently acquired 100% of Flag Telecom's common shares (refer to EuroWire N°36 ), has announced a US$ 300 million investment in Falcon, a new high-capacity submarine cable system that will have links stretching to Egypt in the west to Hong Kong in the east. The new high-capacity resilient loop cable system will be operational within a year.
Mr Mukesh Ambani, Reliance Infocomm chairman, commented: “The Falcon cable system will connect India to the rest of the world. At the moment, the connectivity is not up to the mark, particularly for outsourcing”. The cable system will provide the backbone to deliver advanced broadband services to west Asia, India and China. The cable will have landing stations at Mumbai and Chennai, India, and will connect to Infocomm’s 80,000km long fibre optic network in the country. Other countries such as Oman, Bahrain, Kuwait, Iran, Qatar and Iraq will be provided with direct access. All of these countries have expressed interest in joining the network and Flag Telecom is in advanced discussions regarding their participation. The submarine cable will be funded by Flag Telecom, Reliance and the participating operators.
Company: |
Reliance Infocomm |
Country: |
India |
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+91 22 2204 2268 |
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Website: |
www.ril.com |