Investors Review USD 1.5 bln Investment in BRICS Undersea Cable

Potential investors on $1.5 billion undersea cable connecting the BRICS group to each other and the U.S. are about to decide whether they’ll proceed with funding of the project, reports Reuters.

According to Andrew Mthembu, chairman of i3 Africa which is promoting the project, the cable which would link Brazil, Russia, India, China and South Africa, is expected to come online by the end of 2014.

Reuters quoted Mr. Mthembu as saying: “I’m hoping within the coming six months we will all be in a position to get all the consortium members into some sort of agreement, and then from there it’s then a 24 month period for manufacture and installation.”

South Africa’s communication minister Dina Pule commented on the project: “All of these cable connections should help improve the connection to our new trade partners, reduce the cost to communicate and improve the quality of the Internet services.”

Africa is currently connected to Europe, North America and Asia via nine undersea cables, with five more submarine links planned by 2014.

Subsea World News Staff , June 05, 2012;  Image: BRICS

Share this article

Follow Subsea World News

Events>

<< May 2017 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

IADC World Drilling 2017 Conference & Exhibition

This event showcases products like Cutting edge, drilling technology, well control, health, safety, environment, training and environment industry…

read more >

Decom Offshore 2017

Decom Offshore 2017 is expected to bring together a global audience of over 400 key representatives from the late life and decommissioning…

read more >

IMCA ROV SEMINAR

This seminar is designed to assist IMCA members in dealing with these, with a programme of technical and operational topics affecting…

read more >

Offshore Wind Energy 2017

In 2017, EWEA and RenewableUK will join forces to bring you the greatest conference and exhibition Europe has ever known in the history…

read more >