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>

<< Jan 2017 >>
MTWTFSS
26 27 28 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 31 1 2 3 4 5

Oil & Gas IP Summit

The conference will cover areas like Evaluating Best Practice Techniques for IP Portfolio Management and Innovation Strategies,Collaborative…

read more >

European Gas Conference 2017

In recent years the gas market has undergone tremendous shifts with the emergence of new supply sources, the comeback of coal in the power…

read more >

Well Control – Subsea Engineer Programme

The Training Academy’s IADC accredited Subsea Engineer Programme (SSEP) has been recognized by the industry’s major drilling contractors…

read more >

Offshore West Africa 2017

Offshore West Africa 2016 brought together a record-breaking attendance of oil & gas professionals, creating a vibrant networking experience,…

read more >