Mumbai: Tata group company Videsh Sanchar Nigam Ltd today said it is constructing a $250-million (about Rs988 crore) worth cable system for linking Mumbai directly to Paris, London and Madrid via Egypt.
The cable system would be built in partnership with Seacom and Telecom Egypt, and will provide VSNL a new capacity of 1.28 terabit on the route during 2009, VSNL informed the Bombay Stock Exchange.
The cable system, named TGN Eurasia, would offer connectivity between India and Europe. Besides, it would also have future options for additional connectivity in the Gulf region.
“The plans to build the TGN-Eurasia cable system coupled with our recent announcement to build the TGN-Intra Asia Cable System is a major step towards VSNL’s vision to offer seamless global connectivity at affordable prices,” VSNL President Global Data Solutions Vinod Kumar said.
TGN Eurasia if combined with TGN Atlantic and TGN-TIC cable systems, would be able to offer seamless and diverse connectivity between India, South East Asia, South Africa, Western Europe and the US.
VSNL maintains a global transmission network of over 2,06,356 route kms comprising of both terrestrial and submarine cable assets.
Shares of VSNL were trading at Rs642.50, up 5.40% on BSE in morning trade.