Philippine Long Distance Telephone (PLDT) intends to sign a MoU with a consortium of telecommunications operators to support its plan to invest between USD 50 million and USD 100 million on a second Asia-America Gateway (AAG) submarine cable system, Manilla Times reports, citing PLDT VP Genaro Sanchez. PLDT wants to build a new cable landing station either in Daet, Camarines Sur or in Batangas.
PLDT is studying the “Asia-America Gateway (AAG) number 2 cable, but we’re still in the planning stage,” said Sanchez. He also said no initial investment has been decided yet. “The amounts of between USD 50 million and USD 100 million are just ballpark”, the PLDT executive said.
“We target to sign the MOU within the year,” he said. As to which companies PLDT plans to sign an MOU with, Sanchez said that “actually, it is really a consortium of telcos”.