Telecom Egypt Signs $45m Landing Party Agreement for PEACE Cable System
By Egypt Today Staff
May 1, 2019
CAIRO – 1 May 2019: Telecom Egypt announced signing a landing party agreement worth $45 million with Pakistan & East Africa Connecting Europe (PEACE) Cable International Network Co. and PCCW Global, the international operating division of HKT, Hong Kong’s premier telecom service provider.
The company clarified that PEACE is a 12,000 km long cable system with landings in Pakistan, Djibouti, Egypt, Kenya and France that provides open, flexible and carrier-neutral services for its customers.
“The PEACE cable will cross Egypt through new diversified terrestrial routes between the Zafarana and AbouTalat cable landing stations, where Telecom Egypt will provide PEACE with brand new state of the art landing facilities,” Telecom Egypt stated.
Telecom Egypt’s Managing Director and Chief Executive Officer Adel Hamed said that this agreement marks the addition of another cable system to Telecom Egypt’s huge network of submarine cables, exhibiting clearly that Egypt is the ideal digital route and partner of choice for international traffic from the East to the West.
“Telecom Egypt boasts several differentiation factors in the submarine cable industry that will enable it to realize its vision to become a regional and African digital hub for content providers,”Hamed added.
He clarified that these factors include Egypt’s premium geographic location and the company’s efforts to continuously modernize and expand its international network through the addition of new landing stations and the establishment of highly reliable diversified crossing routes.
Telecom Egypt recorded consolidated profits of LE 3.49 billion during 2018, compared to LE 3.05 billion in 2017 including minority rights, with an increase of 14.26 percent.
Telecom Egypt operates within the telecommunication services sector focusing on integrated telecommunication services.
It has 17 subsidiaries operating across British Islands, Western Europe, Northern Africa and Middle East. Telecom Egypt is based in 6th of October, Egypt.