The Independent Electricity Transmission Operator (IPTO), a subsidiary of the Grid Telecom Group and Telecom Egypt, Egypt’s leading telecommunications company, signed an agreement yesterday in Cairo for a new Greek-Egyptian interconnection Southeastern Mediterranean, with a point of sunset in Crete.
The agreement was signed at a meeting held at the headquarters of Telecom Egypt in the Egyptian capital, the President and CEO of IPTO Mr. Manos Manousakis, the CEO of Telecom Egypt Mr. Adel Hamed and the Director of Grid Telecom Mr. George Psyrris.
The cable project launched between Greece and Egypt will effectively serve the growing volume of data circulating in the Mediterranean region, with the creation of a new and reliable telecommunications corridor. In addition, the new cable will provide the fastest possible route to the Balkans and other major destinations in southwestern Europe such as Genoa and Marseille, via hybrid terrestrial and submarine telecommunications networks.
Yesterday’s agreement confirms the good cooperation between IPTO and its subsidiary Grid Telecom with Telecom Egypt, and follows the Memorandum of Understanding (MoU) of strategic importance signed in February 2022 at IPTO headquarters in Athens, laying the foundations to explore connectivity alternatives between the two countries.
The President and CEO of IPTO Manos Manousakis stated: “The Southeastern Mediterranean provides opportunities for synergies that will contribute to the development of the wider region as an important hub in both telecommunications and energy. Given that Egypt is a central meeting point of submarine cables from East to West, we are particularly pleased. The cooperation between IPTO and its subsidiary Grid Telecom with Telecom Egypt will result in the creation of a new international route that will strengthen the strategic role of Crete as an open data access hub at the crossroads of three continents “.
The CEO of Telecom Egypt, Mr. Adel Hamed, stated: “With the growing demand for connectivity regionally and globally, Telecom Egypt is working to improve and expand its international network and is constantly investing in new cable systems. Our cooperation with IPTO and Grid Telecom will significantly increase the resilience and scope of our network “.
Source: Capital
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