Wednesday 6th April 2011
|Text too small?|
Pacific Fibre, the company planning to build a subsea fibre optic cable to boost connectivity between Australia, New Zealand and the United States, has released a tender document without partner Pacnet.
The two teamed up last July when they estimated the project would cost US$400 million.
But Pacific Fibre said today that it was building the cable alone.
"A joint build memorandum of understanding expired earlier this year, freeing us to move ahead more quickly," Pacific Fibre chief executive Mark Rushworth said.
"We have been assuming a solo-build system for several months now and remain on track to finance and deliver the system in 2013. Our proposed design expands capacity for carriers and multi-national businesses, and provides much needed diversity for the region."
Pacific Fibre has released an invitation to tender for a 5.12 Tbit/sec two fibre pair system, which includes new build cable landing stations in each country.
Vendor responses are due in mid-May with contract negotiations expected to commence with a preferred vendor soon after.
Pacific Fibre's directors and investors include Sam Morgan, Stephen Tindall, Rod Drury, David Kirk, Bill Day, Craig Winkler and Peter Thiel.
No comments yet
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report
T&G Global Limited (NZX: TGG) FY21 Earnings Guidance Update
Arvida Group Limited (NZX: ARV) Successful Completion of $155m Placement
FreshLeaf: Cannabis on course to be 'medicine of the masses'
Arvida Group Limited (NZX: ARV) to Acquire Arena Living Retirement Living Portfolio
My Food Bag Group Limited (NZX: MFB) Market Update and HY Results Announcement Date