According to the Maldives news, the India-Asia Express (IAX) landed in Hulhumalé on Friday, August 11. Ocean Connectivity Maldives (OCM) held a landing ceremony in Hulhumale Friday afternoon. OCM is expected to invest more than $22.5 million in the IAX submarine cable project.
Ocean Connect Maldives Private Limited (OCM) is 100% owned by the Government of the Maldives and established under Maldives Fund Management Corporation Limited (MFMC) as a subsidiary. Ocean Connect Maldives (OCM) is categorized as an ICT infrastructure and International Gateway Access Service Provider company to invest in physical and digital infrastructure, promote inclusive digital networks and services to help address the digital divide and drive the next stage of Maldives’ growth.
In February 2022, Ocean Connectivity Maldives (OCM) signed a $22.5 million (MVR 346.95 million) agreement with Reliance Jio to land the IAX submarine cable in the Maldaives. Investing on IAX cable system will be the cornerstone for OCM’s “New Digital Economy of the Maldives” that envisions to create a fully connected Maldives without barriers for rapid digital transformation.
In November, Ocean Connect Maldives (OCM) signed an agreement with Housing Development Corporation (HDC) to lease land in Hulhumale Phase II to establish the Submarine Cable Landing Station for the IAX submarine cable project.
Upon completion, the Ocean Connect Maldives-India Asia Express (OCM-IAX) will connect the Maldives to one of the IEX and IAX submarine cable network initiatives led by Indian billionaire Mukesh Ambani’s Reliance Jio.
Ooredoo Maldives has approved the development of a disaster recovery site and a cable landing station for PEACE Cable in Kulhudhuffushi, the capital of Haa Dhaalu Atoll administrative division on Thiladhunmathi Atoll in the north of the Maldives.
Dhivehi Raajjeyge Gulhun Public Limited Company (Dhiraagu), the leading operator in the Maldives, has participated in the SEA-ME-WE 6 consortium and will land the SMW6 cable system in Male. Ocean.
All the new subsea cables, OCM-IAX, PEACE Cable and SMW6, will improve the international connectivity in the Maldives.