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FINANCIAL NEWS
New USD455m undersea cable to boost ME’s internet speed
23 Dec 2011
(MENAFN) Gulf Bridge International’s (GBI) senior vice president, Mohamed Elagazy, said that the construction of the USD455 million undersea cable was finished and would be operational in a matter of weeks, reported The National.
Elagazy added that the cable, which starts from India and ends in Italy, passing the Gulf and Egypt, has a capacity of 5.18 terabits, which would be enough to transfer all traffic in the Gulf to the rest of the world and vice versa.
He also said that the Middle East has to some extent a poor internet provision, with the average speed reaching only 1.63 megabits per second (Mbps), less than the global average of 2.1Mbps, adding that the average speed in Lebanon is only 0.3Mbps, whereas the UAE has the region’s fastest broadband connectivity, with an average of 3.92Mbps.
It is worth noting that the new cable comes ashore in Fujairah and could be used by UAE’s du, and regional operators, such as the Saudi Telecom Company (STC) and Vodafone Qatar.
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