Grid Telecom, a subsidiary of the Independent Electricity Transmission Operator (IPTO), and Telecom Egypt, Egypt’s first integrated telecommunications company and one of the largest submarine cable system operators in the region, signed an earlier Memorandum of Understanding (MoU) earlier today. the interconnection of Greece and Egypt, through submarine cable infrastructure.
The Memorandum of Cooperation was signed at the IPTO headquarters in Athens, by the President and CEO of IPTO Mr. Manos Manousakis and the CEO of Telecom Egypt Mr. Adel Hamed. Present at the signing ceremony was the Greek Minister of Digital Government Mr. Kyriakos Pierrakakis, the Egyptian counterpart of Dr. Amr Talaat and the representative of the Embassy of Egypt in Athens, Mr. Mohamed Elghazawy.
The strategic agreement lays the foundations for the exploration of alternative connectivity options between Greece and Egypt, as well as the optimal utilization of the state-of-the-art and international networks of Telecom Egypt and Grid Telecom, through their existing and future visual interconnection with neighboring countries.
On the occasion of the signing of the Memorandum, bilateral talks were also held between Ministers and high-ranking government officials of the two countries, on a number of issues, including Artificial Intelligence, Innovation and Entrepreneurship.
Telecom Egypt’s international network extends to over 140 connection points in more than 60 countries around the world. The company has invested extensively in its submarine cable infrastructure and provides the shortest and most reliable transit route between Africa, Asia and Europe, making Telecom Egypt, over the years, a preferred partner of many international telecommunications operators.
Grid Telecom, with a domestic fiber optic network that currently exceeds 4,000 km, is the vehicle of IPTO in the telecommunications market, already offering multiple optical connectivity between Crete and mainland Greece. IPTO’s subsidiary, taking advantage of its network infrastructure in Italy, the Balkans and Central Europe, is exploiting its position as a key neutral telecommunications services hub in Europe.
The Minister of Digital Government, Mr. Kyriakos Pierrakakis, stated: “Today’s signing of the Memorandum of Cooperation between Grid Telecom and Telecom Egypt is the beginning of the telecommunication interconnection of Greece and Egypt with a submarine network infrastructure, while considering the possibility of a co-located system. “This is an important agreement between the two companies, as the route of the network allows the connection of our countries and our continents, while at the same time ensuring the exponential development of technology ecosystems”.
The Minister of Telecommunications and Informatics of Egypt, Dr. Amr Talaat said: “We welcome the growing bilateral co-operation between our two countries in the framework of the Euro-Mediterranean Partnership. This new co-operation between two strategic players in the region aims not only to improve the link between Egypt and Greece, but mainly to meet the growing and future needs of the countries of Africa, the Middle East and Europe “.
The President and CEO of IPTO, Mr. Manos Manousakis, said: “IPTO, expanding the relations it has already developed in Egypt for the creation of electricity transmission infrastructure, begins a constructive cooperation with Telecom Egypt and lays a strong foundation for new The signing of a strategic Memorandum of Understanding between IPTO and one of the largest submarine telecommunications cable operators in the world, further enhances our international development strategy and the emergence of Greece as a key telecommunications hub in the wider Mediterranean region “.
Adel Hamed, CEO of Telecom Egypt, said: “We are pleased to work with Grid Telecom as this partnership strengthens our strategy to further expand our international infrastructure and increase its geographical diversity. “With Grid Telecom as an important strategic partner, we will be able to expand our reach in Europe, through the Company ‘s extensive network within and beyond the Greek borders.”
The Director of Grid Telecom, Mr. George Psyrris, stated: “Grid Telecom, in just three years since its establishment, has reached important business agreements inside and outside the Greek borders and is already recognized as one of the main providers in the telecommunications market. “The signing of this Memorandum with Telecom Egypt marks the beginning of an important cooperation with a strong ally, strengthening our international presence and reaffirming the market ‘s confidence in the prospects for further development of our Company”.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
