Last checked at 22 Jan 2014 07:00
MENA Cables Signs IRU Agreement with Telecom Egypt to Complete the Crossing-Egypt Infrastructure of its First Submarine Cable
Cairo, January 21st, 2014: Orascom Telecom Media and Technology Holding S.A.E (OTMT) announced today that its subsidiary MENA Cables has signed an IRU (Indefeasible Right of Use) Agreement with Telecom Egypt for diversified Dark Fiber Pair between Zaafarana and Abu-Talat after acquiring the mandatory permits, thereby completing the terrestrial infrastructure of its MENA submarine cable system extending across Egypt. The Term of the IRU Agreement is twenty years.
As a result of using Telecom Egypt's crossing-Egypt infrastructure, MENA is expected to successfully complete and launch MENA Submarine Cable, its first fiber optic submarine cable system within 1 year spanning three continents (Europe, Africa and Asia), two seas (Med Sea and Red Sea) and one ocean (Indian Ocean), initially landing in five countries (Italy, Egypt, KSA, Oman and India), with potential expansion phases to land in Greece, East of the Mediterranean Sea and Djibouti.
It is worth noting that operation of MENA Submarine Cable System was pending only the infrastructure crossing Egypt as all marine construction works had been completed and the landing stations and network operating center (NOC) were fully operational since the first half of 2012.
Additionally, OTMT has also signed another agreement with Telecom Egypt to acquire different local and International capacity and services from Telecom Egypt.
-END-
About MENA
Middle East and North Africa Submarine Cable Systems (MENA-SCS) is a subsidiary of Orascom Telecom Media and Technology (OTMT). MENA-SCS has developed, constructed, owns and operates a submarine telecommunications system connecting Europe to the Middle East and South East Asia.
MENA cable infrastructure, together with already existing cables, is expected to cover current and future international communications requirements between Egypt, the Arab World & India and Europe.
About Orascom Telecom Media and Technology
OTMT is a holding company that has investments in companies with operations mainly in Egypt, North Korea, Pakistan, Lebanon and other North African and Middle-Eastern countries. The activities of OTMT are mainly divided into its GSM,
media and technology and cable businesses. The GSM activities include mobile telecommunications operations in Egypt, North Korea and Lebanon. The media and technology division consists of OT Ventures/Intouch Communications Service and the OT Ventures Internet portals and other ventures in Egypt, including LINK Development, ARPU+ and LINKonLINE. The cable business focuses on the management of cable networks.
OTMT is traded on the Egyptian Stock Exchange under the symbol (OTMT.CA, OTMT EY).
About Telecom Egypt
For further information:
OTMT Investor Relations:
marwan.hussien@otmt.com
Visit our website: www.otmt.com