Grid Telecom is a subsidiary of the Independent Power Transmission Operator (IPTO) which controls the maintenance, control and development of the national transmission system in Greece.
The agreement was signed at Telecom Egypt’s headquarters in Cairo by its managing director and CEO Adel Hamed [pictured, right], the chairman and CEO of IPTO, MANOS Manousakis [pictured, left] and director of Grid Telecom George Psyrris.
The planned connectivity link between the countries will serve increasing traffic between Africa, Asia and Europe, creating a “new reliable telecommunications corridor interconnecting three continents”.
It is the shortest path crossing the Mediterranean basin to reach the Balkans region as well as other important destinations like Genoa and Marseilles over hybrid terrestrial and submarine networks.
“With the increasing demand for connectivity regionally and around the globe, Telecom Egypt is working on improving and extending its international network and continuously investing in new cables,” Hamed said.
“Our collaboration with Grid Telecom will increase our network's resiliency and reach.”
Earlier this year, Telecom Egypt and Grid Telecom signed an MoU in Athens to explore different connectivity options between Greece and Egypt.
Manousakis added: "The Southeast Mediterranean incubates major synergies that will contribute to the wider region's emergence as a significant hub for both data and energy.
“In this context, with the fact that Egypt is a key hub location for all subsea cables from east to west, we are very pleased that the cooperation between IPTO's subsidiary Grid Telecom and Telecom Egypt, will bring a new international route that will enhance the strategic role of Crete island as a neutral open-access node on the intersection of three continents."
