Bangladesh to Invest in SEA-ME-WE-5 Submarine Cable System
- Business & Finance
The Ministry of Posts and Telecommunications and Bangladesh Submarine Cable Company Limited (BSCCL) plan to sign a contract for SEA-ME-WE-5 submarine cable system.
As The Daily Star reports, SEA-ME-WE-5 will connect 20 countries in the Asia-Pacific and Europe.
The landing of a cable in Kuakata in Patuakhali district is expected in the first quarter of 2016.
The loans from the Islamic Development Bank will be used to fund the construction of the cable, in which Bangladesh will invest a total of US$ 70 million, Submarine Networks reports.
The cable contract will be signed in March in Kuala Lumpur, Malaysia.
Singapore, Indonesia, Thailand, Myanmar, Sri Lanka, Pakistan, UAE, Oman, Saudi Arabia, France, Telstra of Australia and Taiwan are part of the cable consortium.
Subsea World News Staff, February 17, 2014