Orascom Telecom Media and Technology Holding S.A.E (OTMT) announced Wednesday the launch of service of MENA submarine cable system connecting Europe, Africa and Asia. OTMT’s subsidiary, MENA Submarine Cables Systems (MENA – SCS) has sent notification to the Egyptian Telecom Regulatory Authority (NTRA) that the MENA Submarine Cable System is now fully operational.
MENA Cable in its first phase of operation spans a distance of 8,800 km and lands in Italy, KSA, Oman and India passing through Egypt with potential for expansion through additional landing points in East Africa and East of the Mediterranean Sea. The cable currently serves capacity for wholesale industries in Europe, Saudi Arabia, Oman, and India while reaching the GCC counties, and South Asia through MENA’s partners. The company’s expansion plans also include serving the Far East through partnerships with other international submarine cables.
With the latest technology of 100 Gbps, the connectivity services provided by MENA submarine cable system provide the lowest latency between South Asia, Europe and the Middle East amongst existing competitive cables. Moreover, being the first private submarine cable connecting the three continents, gives MENA cables the advantages of agility and flexibility of decision taking over other players in the wholesale industry.
MENA Cable covers a footprint with a total market of almost 15,000 Gbps in 2015, expected to grow with CAGR of 40% year over year. MENA Cable plans to reach a 10% market share of the incremental addressable market with target sales over $140 M in the coming 3 years.
Maan El Amine, CEO of MENA – SCS commented on the launch saying: “It has taken us a long time to launch this project due to the unforeseen complications of permits within the territories of Egypt, but we are now excited to finally be in the market with a very promising project. MENA Cable will solve long prevailing problems for service providers who need a reliable solution connecting Asia with Europe. Through our substantial geographical reach and our large network of partners in India, Saudia Arabia and Oman, we are able to avail a reliable connectivity solution to a huge market”
From his side Naguib Sawiris, Executive Chairman and CEO of OTMT said: “Launching MENA Cable is a very positive step towards consolidating OTMT’s presence in one of its core businesses, the submarine cable business. It opens the door for us to serve vast markets in South Asia, Europe and the Middle East in addition to expansion opportunities in the Far East and Africa.”