Funding settled for PEACE submarine cable project

Tropic Science Co., Ltd., China-ASEAN Information Harbor Co., Ltd., China Construction Bank and Huawei Marine Networks used the 3rd Asia Pacific Submarine Networks Forum as the site to sign a memorandum of understanding (MOU) for the launch of the PEACE submarine cable project. The PEACE undersea cable network will span approximately 6,800 km to connect South Asia (via Pakistan) and East Africa (via Djibouti and Kenya).

The project's backers assert the PEACE submarine network will offer the shortest submarine fiber cable route from China to Africa, with links to Europe via land fiber cable transit. China Construction Bank will provide the project financing. With the MOU in place, work on the project will begin next month with a goal of having the undersea network ready for service by the third quarter of 2019.

The cable's backers say they see Africa as a particularly ripe market for investment because of the rapidly growing number of internet users and increasing demand for connectivity.

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