REG - Telecom Egypt S.A.E - TE signs landing party agrmt PEACE cable system

Telecom Egypt Co SAEAnnouncement

29/04/2019 07:05

RNS Number : 3186X
Telecom Egypt S.A.E
27 April 2019
 


 
Telecom Egypt signs landing party agreement

for PEACE cable system

 
Beijing, 27 April 2019: Telecom Egypt announces that it has signed a landing party agreement 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. 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 Abou Talat cable landing stations, where Telecom Egypt will provide PEACE with brand new state of the art landing facilities. The total value of the agreement amounts to USD 45mn over the lifetime of the cable.
 
Adel Hamed, Telecom Egypt's Managing Director and Chief Executive Officer said:
"I am very pleased with the signing of the landing party and crossing agreement as this marks the addition of another cable system to Telecom Egypt's huge network of submarine cables crossing Egypt 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. These include Egypt's premium geographic location and the company's efforts in continuously modernizing and expanding its international network through the addition of new landing stations and the establishment of highly reliable diversified crossing routes."
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About Telecom Egypt
Telecom Egypt is the first total telecom operator in Egypt providing all telecom services to its customers including fixed and mobile voice and data services. Telecom Egypt has a long history serving Egyptian customers for over 160 years maintaining a leadership position in the Egyptian telecom market by offering its enterprise and consumer customers the most advanced technology, reliable infrastructure solutions and the widest network of submarine cables.  Aside from its mobile operation "WE", the company owns a 45% 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. Please refer to Telecom Egypt's full financial disclosure on ir.te.eg
 
For more information, contact:
The investor relations team
Email: investor.relations@te.eg 
 
About PCCW Global
PCCW Global is the international operating division of HKT, Hong Kong's premier telecommunications service provider, which is majority-owned by PCCW Limited. Covering more than 3,000 cities and 150 countries, the PCCW Global network supports a portfolio of integrated global communications solutions which include Ethernet, IP, fiber and satellite transmission solutions, international voice and VoIPX services, managed network & security services and our expanding "as-a-service" solutions including OTT video and Unified Communications.
PCCW Global is headquartered in Hong Kong, and maintains regional centers in Belgium, China, France, Greece, Japan, Korea, Singapore, South Africa, the United Arab Emirates, the United Kingdom and the United States of America. To learn more about PCCW Global, please visit www.pccwglobal.com
 
About PEACE
The Pakistan East Africa Connecting Europe (PEACE) is a privately owned cable system that provides an open system design, flexibility and carrier-neutral cross-connect services for its customers. With the DTS work completed and proceeding activities underway, the project is targeted for completion in the first quarter of 2020. The system design will adopt the latest 200G and WSS technologies, which will initially provide the capability to transmit over 16 Tbps per fibre pair, servicing growing regional capacity needs.This network topology will substantially reduce network latency by adopting the shortest direct connectivity route, providing cost-effective capacity in an economically growing region and enhancing route diversity between and among Asia, Africa and Europe.

See more: www.peacecable.com




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