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FINANCIAL NEWS
Qatar’s GBI to complete undersea cable network
29 Nov 2011
(MENAFN) Qatar’s Gulf Bridge International’s (GBI) CEO, Ahmed Mekky, said that the firm was about to finish a submarine cable network that would connect Iraq with the rest of the world, reported Arab News.
Mekky added that the 13,000 km undersea cable system, which would connect the six Gulf Cooperation Council (GCC) countries in addition to Iraq and Iran, would start operations by the end of 2011.
He also said that the project, which would be the first cable network to land in Iraq, was launched three years ago, adding that less than 3 percent of the country’s population was connected to the internet.
It is worth noting that until now, Gulf Bridge International has invested USD500 million in the project and is thinking to expand eastward into Singapore, probably in next year’s second or third quarter.
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05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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