Orascom launches submarine cable to connect Europe, Africa and AsiaStaff writer ▼ | November 14, 2014
Egypt's Orascom Telecom Media and Technology (OTMT) announced the launch of the MENA Cable service, its fiber optic submarine cable system connecting Europe, Africa and Asia across the Mediterranean and the Red Sea, and the Indian Ocean.
Egypt Orascom Telecom Media and Technology
"The MENA Cable covers a footprint with a total market of almost 15,000 Gbps in 2015, expected to grow with a compound annual growth rateof 40 percent," the statement added.
Maan al-Amine, CEO of MENA SCS, said the new cable is projected to reach a 10 percent market share of the incremental addressable market with target sales over US$140 million in the coming three years.
"The MENA Cable will solve long prevailing problems for service providers who need a reliable solutions connecting Asia with Europe. Through our substantial geographical reach and our large network of partners in India, Saudia Arabia and Oman, we are able to avail a reliable connectivity solution to a huge market."
"Launching MENA Cable is a very positive step towards consolidating OTMT’s presence in one of its core businesses, the submarine cable business," said Naguib Sawiris, Executive Chairman and CEO of OTMT.
"It opens the door for us to serve vast markets in South Asia, Europe and the Middle East in addition to expansion opportunities in the Far East and Africa."
The new fiber optics cable project spans a distance of 8,800 km in its first phase of operation, spanning across in Italy, KSA, Oman and India passing through Egypt with a potential for expansion through additional landing points in East Africa and East of the Mediterranean Sea, he added. The cable currently serves wholesale industries in Europe, Saudi Arabia, Oman, and India while reaching the GCC counties and South Asia through MENA’s partners. ■