By Mohamed Alaa Eldin, Daily News Egypt

Telecom Egypt’s (TE) submarine cable business unit has helped the company achieve increased revenues, contributing to significant growth during the second quarter of 2014, CEO Mohamed El Nawawy told Daily News Egypt.

Agreements and alliances recently made by the company have greatly contributed to the increase in revenues from submarine cable investments, especially through the cooperation agreement concluded with the submarine alliance SEA-ME-WE-5, El Nawawy said.

By virtue of the agreement, a SMW5 cable will pass through Egypt. Another partnership agreement to implement the new high capacity submarine cable AAE-1 project with 17 of the most prominent suppliers of submarine cable services in the world has also contributed significantly to company revenues, according to El Nawawy.

He further revealed that four new submarine cables will be coming from east Asia within the next two years, in addition to the existing 17 cables currently operated by TE, bringing the total to 21.

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