VSNL to invest $200 mn for intra-Asia cable
Videsh Sanchar Nigam Ltd on Monday said it plans to build a new submarine cable system linking Singapore, Hong Kong and Japan at an investment of $200 million.
By PTI |
MUMBAI: Videsh Sanchar Nigam Ltd on Monday said it plans to build a new submarine cable system linking Singapore, Hong Kong and Japan at an investment of $200 million.
VSNL Singapore Pte Ltd (VSNL International), the company's international arm, will build the new multi-terabit submarine cable system for its global customers doing business in Asia-Pacific markets.
This investment follows the recent announcement by VSNL to build a new system from India to Europe that will provide connectivity to the Gulf region and the African continent, VSNL informed the Bombay Stock Exchange.
The intra-Asia cable, when combined with the Tata Indicom Cable System (TIC) and the TGN-Pacific cable system, will complete VSNL International's multi-Terabit capability from India to Asia and onward to the US.
"With Asian bandwidth demand forecasted to grow at an average of 27 per cent compounded annual growth rate, VSNL is taking steps to expand its capacity to serve customers in the booming intra-Asia market," VSNL International President Vinod Kumar said.
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"This new high-capacity cable system, soon to be one of the region's largest will enable us to deliver high-performance bandwidth at the most cost-effective pricing and fulfill our strategy to become the market leader in bandwidth supply," he said.VSNL will begin construction of the new cable by December 2006 and complete the project in 12-14 months.
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