Tamares Telecom and Grid Telecom to build subsea cable system connecting Greece, Cyprus, and Israel

Tamares Telecom and Grid Telecom have agreed to build ANDROMEDA, a subsea optical fiber cable system connecting Greece, Cyprus, and Israel, the two companies have announced.

Tamares Telecom is a leading fiber-based international communications and data service provider and network operator subsidiary of Aluma Infrastructure Fund.

Grid Telecom is a wholly owned subsidiary and the telecommunications vehicle of Greece’s Independent Power Transmission Operator (IPTO).

The strategic partnership between Grid Telecom and Tamares Telecom for ANDROMEDA is anticipated to bring about advanced data transport solutions, to create a new telecommunications corridor between Europe and the Middle East, an 18 May announcement by the companies said.

Leveraging on the strategic positions of Greece and Israel, the transcontinental fiber cable system is also expected to offer wholesale customers leading edge connectivity and international reach across the European continent, the Mediterranean and the Arabian Peninsula, through the development of an alternative international digital highway that is much needed by the regional economy, the two companies’ announcement said.

The ANDROMEDA system will connect Israel, Cyprus, and Greece through an alternative low latency path between Europe and the Middle East, extending through additional subsea and terrestrial links westwards to the Balkans and important destinations in Central and Western Europe, and eastwards to the Arabian Peninsula and other destinations.

Ori Yogev, Chairman, Aluma Infrastructure Fund, commented, “Tamares Telecom is continuously developing and extending its national and international infrastructure. Our collaboration with Grid Telecom to build and operate the ANDROMEDA system will add explicit value to our robust reach in Europe and the Middle East. Our investments in new infrastructure projects and solutions reiterate our leading position thanks to the multiple layers of our infrastructure diversity, which include establishing new subsea cable systems and crossing routes that will cater for the rising market demand for high quality bandwidth data transport, through an alternative telecommunications bridge between East and West.”

Manos Manousakis, Chairman and CEO, IPTO, stated, “IPTO is building critical infrastructure for tomorrow's electricity and telecommunications backbone networks throughout Greece and beyond, contributing to Greece’s transformation into a critical energy and data hub of high geopolitical value at the crossroads of Europe, Africa and Asia. In this context, the fact that Israel is fast developing into a key international telecommunications hub in the Middle East, creates strong synergies and win-win business opportunities. We are very pleased that the cooperation between IPTO’s subsidiary, Grid Telecom, and Aluma’s subsidiary, Tamares Telecom, has culminated in the agreement to build the ANDROMEDA subsea cable system, bringing a new international route that will enhance the strategic role of Greece as a neutral open-access connectivity node in the broader Balkans – Mediterranean region.”

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