Greece and Saudi Arabia have decided to create a joint company to link communications between Europe and Asia using fiber optics. The project is called “East to Med data Corridor”. This huge data cable project is expected to be completed by 2025.
It is data cable, that will encompass both sea and land, will be jointly developed by the Saudi company STC and MENA HUB, owned by the Greek satellite telecommunications and applications company TTSA.
The Greek electricity company PPC and the Cypriot telecommunications operator CYTA will also have a partial participation in the project.
East to Med data Corridor
The “East to Med data Corridor” You still need many details. It is expected to reach an agreement on the project before July.The cable laying will take a long time and the estimated completion date is 2025. The total project cost is estimated at some 1.000 millions of euros.
Project perspectives
Throughout the last decade, Greece has faced great financial difficulties.
Before the hard demands of the EU to rescue its economy, The digital transformation has held an outstanding place on the Greek government agenda. The progress of this project will represent an important step forward in that process.
When the new Greek government took possession in 2019, launched a mass communication initiative. Greece is now on the path of recovery.
Greece has received some 30.000 Millions of euros in digital transformation funds. These funds consist of subsidies and loans. The country will allocate much of these 30.000 million to 5G and fiber optic connectivity infrastructure.
The Minister of Foreign Affairs, Ioannis Smyrles, He declares that the route will begin in Saudi Arabia and will end in Greece via Chipre. It will create an important axis between Europe, Asia and Middle East. Will provide great value for data transport and storage.
Smyrlis also highlights the importance of helping to create data in Greece through this project and to store them. It will continue to boost the economy, the country's investment and business and, therefore, Its geopolitical importance.
The development of fiber optic cables in the world
Connecting the world through fiber optic cables is increasingly important for world communications and economies.
Las submarine lines of world fiber optics currently transport around 95% of intercontinental data traffic.
Some 380 Submarine fiber optic cables transport data throughout the world through some 1.000 Coastal Landing Stations.
Nevertheless, The number of submarine fiber optic cables that connect the numerous stations is relatively small. Countries are working to increase their capacity in this key area of digital infrastructure.