Singapore, November 3, 2004 - Videsh Sanchar Nigam Limited (VSNL), announced today the official launch of the Tata Indicom Cable (TIC), Singapore's first fully Indian-owned, undersea fiber-optic cable. The TIC cable is 100 percent owned, operated and maintained by VSNL.
The 3,175-km TIC cable lands in Chennai in India and in Changi in Singapore. Construction of the cable began in November 2003 and went live on September 15, 2004, making it one of the fastest cable build-outs in history.
The new 5.12 terabit (Tbps) TIC cable system will significantly increase the existing bandwidth capacity into India, which is the second fastest growing communications route in the world. This cable is expected to provide much needed diversity to telecom operators and enterprises which are dramatically increasing their presence in India. Full ownership by VSNL will also allow for new solutions and commercial paradigms to be offered.
Speaking at a press conference in Singapore to inaugurate the TIC cable, the Chairman of the Tata group, Mr. Ratan N. Tata, said, "Several records have been achieved in completing this cable within a year of breaking ground. This cable, along with VSNL's successful bid earlier this week for acquisition of the Tyco Global Network, would position VSNL as one of the world's leading submarine cable bandwidth providers. We now intend to leverage the total capabilities of the Tata group in the IT and telecom space to strengthen our leadership globally as we continue our tradition of innovation and value-based services."
Mr. Tata added that the launch of Tata Indicom Cable will further strengthen Singapore's position as an important IT and telecommunications hub in the Asia-Pacific region.
Commenting on the impact of this new cable to India, Frost & Sullivan Partner, Mr. Manoj Menon said, "The rise of the BPO sector, proliferation of MNCs coupled with growth of the domestic economy, spells promising times ahead for the international bandwidth market for India, set to grow at a very healthy CAGR of 43 per cent over the next five years.