By Usanee Mongkolporn, The Nation

TOT's revamped board, at its first meeting, also approved TOT's proposal to join the consortium developing the Asia-Africa-Europe 1 submarine cable. The project is one of three undersea cable projects worth Bt59.79 billion that the National Council for Peace and Order endorsed last week.

TOT said in a statement that the cable project was one of the new sources of revenue to replace the telecom concession revenue that it has had to pass on to the Finance Ministry since December 20.

TOT plans to inject Bt1.4 million into the project and will pay 10 per cent of that amount as the first payment as a consortium member this month. It hopes to see a return on investment in seven years.

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