The Egyptian Ministry of Communications announced on Thursday that Telecom Egypt had signed an agreement to establish the first subsea cable linking Egypt to Albania and from there to the Balkans and eastern and central Europe.
The ministry stated in a statement that according to the agreement, which was signed with the Hungarian company (4iG) in Budapest, a joint entity will be established between the two companies to begin construction of the new submarine cable project.
Egyptian Minister of Communications and Information Technology Amr Talaat, who witnessed the signing of the agreement, said that Egypt has 14 international submarine cables and work is underway to establish 5 new international submarine cables through international alliances.
Gellért Jászai, Chairman of 4iG said: “Today's agreement is an important step for 4iG Plc to become part of a global data communications network that can accelerate our growth and competitiveness in international markets. Our strong market presence in Albania gives us the opportunity to make the additional onshore investments necessary for the success of the project and to open a new data gateway to Europe with Telecom Egypt.”