Telecom Egypt (TE) announced signing a joint cooperation agreement with Grid Telecom, a subsidiary of the Greek Independent Electricity Transmission Operator (IPTO), to link Egypt and Greece by building a new submarine cable.
This came during a visit by a delegation from the Greek IPTO to Telecom Egypt’s headquarters in the Smart Village in Cairo.
The agreement was signed by Adel Hamed, Managing Director and CEO of Telecom Egypt; Manos Manosakis, Chairperson and CEO of IPTO; and Georgios Besiris, Director of Grid Telecom.
According to a statement issued by TE on Tuesday, this agreement comes within the framework of TE’s vision and expansion strategy to enhance its international infrastructure and expand its networks and multiple access points within the Mediterranean Sea by opening an eastern gateway to Europe through Greece. The new cable is the shortest way to cross the Mediterranean Basin to the Balkans and other destinations such as Genoa and Marseille via land and sea routes. This will contribute to strengthening Egypt’s strategic position as a global center for communications services and data traffic between East and West.
This cooperation comes in the wake of the two companies’ signing of a strategic memorandum of understanding (MoU) in Athens on February 9, paving the way for exploring different connectivity options between Greece and Egypt based on the distinguished infrastructure and international connectivity capabilities of the two companies with neighboring countries now and in the future using the latest optical fiber technologies.
Adel Hamed said that the company is constantly working on developing its international network by investing in new submarine cable systems to keep pace with the increasing demand for telecommunication services regionally and around the world.
He added that cooperation with Grid Telecom gives TE’s international infrastructure more flexibility and spread, adding a new access point for Europe across the Mediterranean region, which is of strategic importance in international telecommunication services.
Manos Manosakis said that the Southeast Mediterranean region is witnessing many aspects of continuous cooperation towards establishing this region as a vital hub for data and energy traffic.