Sharechat Logo

Pacnet teams with Pacific Fibre to build undersea cable

Wednesday 28th July 2010

Text too small?

Pacnet, the owner of Asia’s largest undersea cable, has teamed with local start-up Pacific Fibre to build a US$400 million cable linking New Zealand, Australia and the US.

Pacific Fibre is a venture backed by big-name entrepreneurs Sam Morgan, Stephen Tindall and Rod Drury that aims to challenge Telecom’s Southern Cable. Pacnet and Pacific Fibre will announce the contract to actually build the cable “in coming months,” according to a statement from co-founder Lance Wiggs.

The two companies will share the costs of building and managing the 13,600 kilometre cable, which may be operating as soon as 2013. The partners still need to find customers for the cable.

Pacnet owns EAC-C2C, Asia's largest submarine cable infrastructure at 36,800km and capacity for 10.24 Tbps. It was also the largest investor in the US$300 million Unity cable connecting the US and Japan.

Businesswire.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

CHATHAM ADVISES EXTENDED CLOSING DATE OF 9 AUGUST FOR SPP
Acceleration of expressway will be transformative for Northland economy says EMA
The Warehouse Group - Proposed Scheme of Arrangement
The Warehouse Group - Proposed Scheme of Arrangement
Winton announces timing of its Annual Results
Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares
General Finance - Olympic Term Deposit Promotion featuring a Special Bonus of 0.1%
July 22nd Morning Report