Greece’s Independent’s Power Transmission Operator-IPTO‘s subsidiary Grid Telecom and Telecom Egypt, Egypt’s leading telecommunications organization, are starting the branching to Crete of the large telecommunications cable that will connect most of the countries on the coast of Africa.
According to IPTO, this development will make Greece a strong open access data transfer hub between Europe, Africa and Asia.
Strategic investment
It is a strategic joint investment through which the two sides participate in the development of the first undersea cable infrastructure between Greece and Egypt, via Crete, creating a new, reliable telecommunications bridge across three continents. In this context, Grid Telecom, which is the telecommunications “vehicle” of the Operator, acquires significant cable capacity to Egypt, Italy and France, ensuring access through the new cable to neighboring countries.
Also read: What is Plan B in case of a blackout – All the measures for the country’s energy shield
Following the signing of a preliminary agreement in June 2022, the President and CEO of ADMIE, Mr. Manos Manousakis, the CEO of Telecom Egypt, Mr. Adel Hamed and the Director of Grid Telecom, Mr. Giorgos Psyrris, signed yesterday in Cairo, in the presence of of the Minister of Telecommunications and Information Technology of Egypt Dr. Amr Talaat, the contract for the construction and laying of the branch of the great cable of Africa. It was preceded by the signing of a strategic Memorandum of Understanding in February 2022 in Athens, which laid the groundwork for exploring different connectivity options between Greece and Egypt through existing and future fiber optic links.
Total length of more than 45,000 km
The African submarine cable system is expected to be completed in 2024 and will have a total length of more than 45,000 km.
The planned branch of the cable will be beached at Tympaki, on the southern side of Crete, connecting the island in the east with Port Said in Egypt and in the west with Genoa in Italy and Marseille in France.
The new telecommunications cable will efficiently serve the growing data traffic between Europe, Africa and the Middle East. It will also be the shortest, lowest latency data transfer route between Egypt and Greece extending north to the Balkans, Central and Western Europe and south to the Arabian Peninsula and other important destinations in Asia and Africa.
Latest News
DM Dendias: We talk With Turkey But We Always Bring Up Their Unacceptable Positions
Second and last day of closely watched conference, entitled 'Metapolitefsi 1974-2024: 50 Years of Greek Foreign Policy', also included appearances by PM Mitsotakis, Ex-PM Tsipras and PASOK leader Nikos Androulakis, among others
Rhodes Airport Tops Fraport Greece’s Regional Airports in 2024 Performance
According to Fraport's data, more than 35 million passengers (specifically 35.2 million) were handled by Fraport-managed airports during the 11 months.
European Central Bank Cuts Interest Rates by 25 Basis Points
It is the fourth cut of interest rates by Europe’s central bank, a move expected by the markets and financial analysts leading to the rate settling at 3%.
Airbnb: New Measures Add €600 in Extra Costs for Property Owners
Property managers face an immediate administrative fine of 5,000 euros if access to the inspected property is denied or any of the specified requirements are not met.
Economist: Greece Included in the Best Performing Economies in 2024
Meanwhile, Northern European countries disappoint, with sluggish performances from the United Kingdom and Germany.
EasyJet Expands Its Routes from Athens
The airline’s two new routes will be to London Luton and Alicante and they will commence in summer 2025.
Capital Link Forum Highlights Greece’s Economic Resurgence; Honors BoG Gov Stournaras
Capital Link Hellenic Leadership Award recipient, Bank of Greece Gov. Yannis Stournaras, an ex-FinMin, was lauded for his pivotal role during Greece’s economic recovery
Tourist Spending in Greece Up by 14%, Visa Card Analysis Shows
Greece’s capital Athens emerged as the most popular destination, recording a 17% increase in transactions with Visa cards, surpassing even the cosmopolitan island of Mykonos.
Inflation in Greece Unchanged at 2.4% in Nov. 2024
The general consumer price index (CPI) posted a 0.4% decrease in November compared to the previous month
2024 Christmas Holidays: Extended Shop Hours Schedule
The 2024 Christmas Holidays extended shop hours schedule commences on Thursday, December 12 and runs until the end of the year.