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Greece and Saudi Arabia have agreed on a partnership to a joint venture to lay fiber-optic cables that will link Europe and Asia. The large-scale data cable project is expected to complete by 2025.
The project is called “East to Med data Corridor” (EMC project). This multi-year project will see the two partner countries lay subsea and land cables to link Europe and Asia.
MENA HUB, owned by Saudi Arabia’s STC and Greek telecoms and satellite applications company TTSA will carry out the multimillion-dollar transcontinental project over the next 3 years.
But there are other companies as well to have a hand in this project. Reuters report that Public Power Corporation of Greece, telecom operators of Cyprus – CYTA will also have a share in the project. These companies are though, waiting for their approval.
This closing of the deal could take place by July. This would allow the project to start in autumn. It is reported that the entire project would be complete by the end of 2025.
Reuters have also reported quoting “another person close to the deal” that the cable connecting Italy to Singapore will cost 800 million euros.
Such a large-scale communication project has come after the new government in Greece came to power in 2019. It is also the year in which the country pulled through its biggest financial bailout and is finally working its way to recovery. At the same time, the Greek government has made digital transformation a top priority.
Greece will use a large share of 30 billion on 5G and fiber cable infrastructure. European Union has allocated the funds to Greece for its post-pandemic recovery.
Recently, many large corporations are also working on subsea cables. Google and Meta have also announced a project on subsea cable infrastructure. Apparently, linking continues have become a primary focus in recent years.
How do you see the global communication network forming in the coming years with such large-scale projects that will link continents directly? Do share your input in the comments below.