The Landing Party Agreement for PEACE cable system was signed between Telecom Egypt, Hengtong and PCCW Global on 27th April, 2019 in Beijing during the second Belt and Road summit. In the presence of the minister of telecommunication of Egypt Dr. Amr Talaat and the chairman of Hengtong Group Mr. Cui Genliang, Mr. Adel Hamed, CEO of Telecom Egypt, Mr. Wu Qianjun, VP of Hengtong Group and CEO of PEACE, Mr. Jordick Wong, senior VP of PCCW Global, together signed the agreement.
A strategic cooperation LOI was also signed between Hengtong International Business Unit and Telecom Egypt during the event. Telecom Egypt will purchase fiber cables from Hengtong and Hengtong will buy the crossing Egypt fiber from Telecom Egypt.
According to Egypt Today, it costs PEACE US$45 million for the landing party agreement with Telecom Egypt.
The PEACE cable will connect Pakistan, Djibouti, France, Kenya, passing thourgh Egypt, with extension southwards to South Africa and eastwards to South East Asia in the future.
PEACE cable has teamed up and signed landing party agreements with Djibouti Telecom, Cybernet, and Orange for cable landing in Djibouti, Pakistan and France (Marseille).
The signing of Landing Party Agreement (LPA) with Telecom Egypt is a milestone for PEACE cable system. The PEACE project is progressed well and the cable is under manufacturing currently. PEACE will be ready for service in 2020.