Telecom Egypt and Grid Telecom have signed a Memorandum of Understanding (MoU) in order to discover potential submarine cable projects.
As such, the agreement will see both partners work together to consider future submarine cable routes between Egypt and Greece. In addition, both companies’ assets can better support each other across their international infrastructure portfolios.
Telecom Egypt’s international network extends to over 140 landing points in more than 60 countries across the globe. In parallel, the company invested widely in its submarine cable infrastructure, which is the shortest and most reliable crossing path between Africa, Asia, and Europe, making Telecom Egypt an attractive partner for many international telecom players over the years.
Regarding the Greek side of the MoU with a domestic fiber-optic network currently exceeding 4,000 km, Grid Telecom, the IPTO’s vehicle in the telecommunications market, is already offering diverse fiber connectivity between the island of Crete and the Greek mainland.
Also, the steps taken will help the company leverage its position as a major, carrier-neutral hub in Europe, in addition to its network infrastructure in Italy, the Balkans, and Central Europe.
The minister of digital governance of Greece, Kyriakos Pierrakakis, said: “This is an important agreement between Grid Telecom and Telecom Egypt as the cables’ route enables connecting points of presence in our countries and across continents, and also secures the exponential growth of our respective digital markets.”
According to Pierrakakis, the agreement not only represents a significant partnership for the telecoms industry but is “symbolic” of a deepening relationship between the two nations and of the region’s “geostrategic importance.”
“This fresh cooperation between two strategic players in the region aims not only to improve their interconnection but to also meet the growing current and future needs of countries in Africa, the Middle East, and Europe,” added Talaat.
Further to this announcement, the meeting also saw the government officials discuss various additional topics, including AI and technological innovation.