(Ecofin Agency) - On April 27, 2019, Telecom Egypt (TE) signed three technology agreements with Chinese firms PEACE Cable International Network Co. Ltd, PCCW Global and Huawei. These agreements were signed during the digital economy initiative of the second Belt and Road forum held in Beijing, on 25-27 April 2019.
The first agreement signed by Adel Hamed, CEO of TE, with PEACE Cable International Network Co. Ltd and PCCW Global was for transit. In the framework of that agreement, Pakistan and East Africa Connecting Europe (PEACE) cable network will be deployed by PCCW Global. The cable will go through Egypt at different points connecting the landing station of Zaafarana in Abu Talat where TE will provide cutting edge landing equipment. The total value of this agreement is estimated at $45 million for the life of this cable.
The second agreement between TE, PEACE and its head office Hengtong Optic Electric is also for transit. In its framework, TE will provide another transit route to meet the growing need in Europe. The financial value of this agreement is $20 million. Hengtong will also supply optical fiber cables to TE at competitive prices. These cables will be used to implement TE’s strategic plan which is to cover the whole country with optical fiber cables.
The third agreement was signed with Huawei for cooperation in advanced mobile network. The goal is to upgrade and develop the networks and services provided to TE’s clients. The two partners plan many technical experiments.