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Cable line with Egypt, what are the economic benefits. Details of the agreement are revealed

2024-02-06 12:15:16Biznes SHKRUAR NGA REDAKSIA VOX

Cable line with Egypt, what are the economic benefits. Details of the agreement

The construction of the direct underwater cable line Albania - Egypt is expected to bring a positive impact to the Albanian economy, taking into account the opening of new jobs and the creation of new digitalization opportunities.

The agreement signed yesterday between the Albanian government and the info-communication company based in Budapest 4iG comes after the latter reached an agreement with the company Telekom Egypt in October last year.

At that time, the companies announced the details, noting that the system will have a high capacity, as Albania will be one of the gateways and main entry points to Eastern Europe.

"Backed with an assured cross-border land infrastructure, it will facilitate further connectivity and access to various key destinations," it said at the time.

Expectations for the use of this line by investors are high, as they aim to gain a significant share of the large and rapidly growing data traffic market between Europe and Asia, as well as between Europe and East Africa.

In addition to the many potential points in Eastern Europe, with an open access model and multiple branching units, the system will be set up as a new, cabled, European access point with a different transit path compared to the already existing Mediterranean routes to the point major internet sites, similar to those in Frankfurt.

The investment is estimated at 100-115 million euros, while in addition to the economic benefits, it has gone in line with the policies for the development of technology and digitalization in Albania.


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