BackR-Com unit to lay submarine cable link to Singapore
The 5,000km network will be laid at an initial cost of $200 million
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Mumbai: Global Cloud Xchange, a subsidiary of Anil Ambani-led Reliance Communications Ltd (R-Com) on Thursday announced plans to lay a submarine cable network linking Mumbai with Singapore.
The 5,000km network, which will also connect Mumbai, Delhi, Hyderabad, Chennai and Thiruvananthapuram, will be laid at an initial cost of $200 million. The rest of the cost would be borne by partners, to be named in the next 120 days. The company, formerly called Reliance Globalcom, said the cable would be ready in 19 months.
The submarine cable will also connect Singapore and China. The company said this would add double-digit revenues during 2017-19.
Bill Barney, chief executive officer, Global Cloud Xchange said: “This interconnection exchange (ICX) cable will enable us to become the largest cable providers connecting Europe with Asia. It will also provide a 20% growth in assets and help us tap emerging markets, like Sri Lanka. The next time we have this conference will be over the ICX cable connecting Mumbai and Singapore-a distance of 5,000 km."
At 1.54pm, R-Com shares were trading at ₹ 152.10, up 0.66% on the BSE, while the benchmark Sensex was down 0.04% at 25,236 points.
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