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>

<< Oct 2017 >>
MTWTFSS
25 26 27 28 29 30 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

Deepwater Operations Conference & Exhibition

The Deepwater Operations Conference and Exhibition provides a unique experience for attendees and exhibitors to share…

read more >

24th Annual Africa Oil Week 2017

The Conference portraying five days of senior-level executive insights, with rich-content on corporate strategies and portfolio, exposure…

read more >

OTC Brasil 2017

OTC Brasil is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >

Rio Pipeline 2017

Rio Pipeline Conference & Exhibition has changed its branding design, to unify the whole pipeline community, in an even more complete event…

read more >