REG - Telecom Egypt S.A.E - Mobily&TE to land 1st Saudi Subsea Cable inRed Sea

Telecom Egypt Co SAEAnnouncement

04/11/2024 07:15

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RNS Number : 7854K  Telecom Egypt S.A.E  04 November 2024

Mobily Partners with Telecom Egypt to Land the First Saudi Submarine Cable Linking Saudi Arabia and Egypt through the Red Sea

November 4, 2024: Mobily, a leading Technology, Media, and Telecom (TMT)
company in the Kingdom of Saudi Arabia, and Telecom Egypt, the total telecom
operator in Egypt and one of the largest subsea cables operators in the
region, have signed a cooperation agreement to land the first Saudi submarine
cable linking Saudi Arabia and Egypt. The new cable, which is wholly owned by
Mobily, will pass through the Red Sea, connecting Saudi Arabia and Egypt and
opening the way for expansion and access to Europe through various
connectivity options.

 

The new subsea cable expands the company's network of subsea cable systems and
extensive international infrastructure to provide more reliable connectivity,
handle increasing telecom traffic, and meet the growing demand for internet
services locally and internationally.

 

The new cable will land at two cable landing stations along the Red Sea: Sharm
El Sheikh in Egypt and Duba in Saudi Arabia. This cable will enable Mobily to
connect the Arabian Gulf and Saudi Arabia's neighboring countries to the
Egyptian landing station in the Red Sea through Mobily's digital corridors.
Additionally, the cable will provide connections to various subsea cable
systems landing in Egypt.

 

This agreement is part of Mobily's strategy to expand its extensive
infrastructure and network. The new cable builds on the company's previous
investments in subsea cables, which link it to various regions around the
world, further enhancing Mobily's international capacity.

 

 

Salman Bin Abdulaziz Al-Badran, Chief Executive Officer of Mobily, commented:

 

"The new cable represents a significant milestone in strengthening Saudi
Arabia's position as a leading international hub for telecommunications
services and data traffic, in alignment with the goals of Saudi Vision 2030.
The signing of the agreement underscores our commitment to expanding our
infrastructure and enhancing our capabilities both regionally and
internationally, as Mobily's new cable will connect Saudi Arabia to Egypt and
improve communication flexibility between the Middle East and Europe. I am
pleased with our cooperation with Telecom Egypt, which will enable us to offer
the best services to all our customers around the world."

 

 

 

Mohamed Nasr, Managing Director and Chief Executive Officer of Telecom Egypt,
commented:

 

"We are pleased to collaborate with Mobily, a renowned telecommunications
player in the region, to connect communities throughout their extended
network. This agreement marks a significant milestone in our collaboration
with Mobily, advancing our joint ambitious plans and connecting major regional
hubs such as Egypt and Saudi Arabia. Complementing the newly established
landing station in Sharm El Sheikh, we are developing new crossing routes to
connect Sharm El Sheikh to the Mediterranean Sea. Telecom Egypt is dedicated
to advancing the international telecommunications infrastructure by enhancing
the geographical diversity of the global subsea cable networks. We are
confident that this commercial agreement will be a valuable addition to our
ongoing efforts to support this critical sector and cater to the rising demand
for capacity and connectivity."

 

Mobily remains dedicated to expanding its local and international subsea
network infrastructure by enhancing capacity and extending its global reach
through new partnerships. This commitment aims to deliver cutting-edge digital
solutions to its customers and support the sustainable growth of the Kingdom's
ICT sector through advanced infrastructure.

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About Mobily

Etihad Etisalat (Mobily) is a Saudi company launched commercially in May 2005.
Mobily provides integrated services for three main sectors: individuals,
businesses, and carriers. It has one of the largest wireless networks by
coverage in Saudi Arabia as well as the region, and one of the widest FTTH
networks, in addition to one of the largest data center systems worldwide.

 

About Telecom Egypt

Telecom Egypt is a total telecom operator in Egypt, providing a wide array of
telecom services to a diverse customer base. Serving individuals, communities,
SOHOs, SMEs and large enterprises, Telecom Egypt offers a comprehensive,
innovative, and diversified portfolio of services, ranging from fixed and
mobile voice to essential data solutions crucial in today's digital landscape.
These services include high-speed internet, smart solutions, data center
facilities, and cloud computing solutions tailored for businesses.

With a rich heritage of about 170 years, Telecom Egypt continues to lead the
Egyptian telecom market by providing cutting-edge technology, robust
infrastructure, and an extensive network of subsea cables to meet the needs of
its enterprise and consumer clientele. The company's pivotal role in Egypt's
telecommunications landscape is underscored by its expansive network coverage,
broad service range, and dedication to fostering innovation. Aside from its
mobile operation "WE," Telecom Egypt holds a significant 45% ownership stake
in Vodafone Egypt. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN)
are traded on the Egyptian Exchange and the London Stock Exchange.

 

For more information, contact:

The Investor Relations Team

Email: investor.relations@te.eg (mailto:investor.relations@te.eg)

Website: ir.te.eg (https://ir.te.eg/en/CorporateNews/PressReleases)

 

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