Investors Review USD 1.5 bln Investment in BRICS Undersea Cable

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>

<< Sep 2016 >>
MTWTFSS
29 30 31 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 1 2

Natural Gas Course: From Wellhead to Burner-Tip

Oak Leaf Energy Training is continuing to offer CERI’s cornerstone course, first presented almost 20 years ago. Revised and fully updated…

read more >

Petrotech 2016

The conference content is managed by a committee of industry experts representing NOCs, IOCs, service providers and academia active…

read more >

SPE Annual Technical Conference and Exhibition

The event will embrace the conference’s heritage of excellence, drawing on the expertise of leading international oil and gas professionals…

read more >

ADVANCED SUBSEA POWER AND HEATING CABLES FOR THE OIL AND GAS INDUSTRY

This conference will establish a common understanding of the challenges and indicate future application and performance of subsea electrical…

read more >