National Telecom Regulatory Authority (NTRA) board meeting chaired by Minister of Communications and Information Technology Dr. Tarek Kamel awarded the license for the first submarine international telecommunications cable to serve the Arab Gulf and Southern Europe to an Egyptian-Arab private sector consortium.
The license is part of an international telecommunication liberalization policy which the Ministry of Communications and Information Technology has undertaken with the aim to open wider scopes for the Egyptian, Arab, and foreign private sector investors, inviting them to provide international telecommunication services to benefit users.
The liberalization policy aims to bolster Egypt’s regional role, its competitive communications tariff and open new channels for international telecommunications and Internet which will inevitably lead to the establishment and development of other complimentary services. Liberalization will lead to reduced international telecommunications costs which will reflect positively on the provision of high-speed internet services.
Investments for the first phase of the cable are estimated at $120 million, which will attract further investments of more than $300 million and achieve exports worth $500 million within 5-7 years. It will also cut international telecommunications costs by $200 million rather than building Egypt’s role as a center for south east Asia -Europe traffic. It is worth mentioning that this is the first international marine cable owned by an Egyptian-Arab consortium.
Source : MCIT