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Egypt Reinforces Strategic Position as Telecom Hub through Subsea Cable with Greece

Signing ceremony between Telecom Egypt and Grid Telecom to build a subsea system (Egyptian Government)
Signing ceremony between Telecom Egypt and Grid Telecom to build a subsea system (Egyptian Government)
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Egypt Reinforces Strategic Position as Telecom Hub through Subsea Cable with Greece

Signing ceremony between Telecom Egypt and Grid Telecom to build a subsea system (Egyptian Government)
Signing ceremony between Telecom Egypt and Grid Telecom to build a subsea system (Egyptian Government)

Egypt concluded an agreement with Greece Tuesday to establish a subsea cable linking the two countries across the Mediterranean.

Telecom Egypt, the first integrated telecom operator, and Grid Telecom, a wholly-owned subsidiary of the Independent Power Transmission Operator (IPTO) in Greece, signed a collaboration agreement to build a subsea system connecting the two countries.

Egypt’s Minister of Telecommunications and Information Technology Amr Talaat witnessed the signing ceremony in Cairo.

The Managing Director and CEO of Telecom Egypt, Adel Hamed, and the Chairman and CEO of IPTO, Manos Manousakis, signed the agreement.

The deal is a testimony of the strategic cooperation between Telecom Egypt and Grid Telecom.

It comes in line with Telecom Egypt’s strategy of strengthening its infrastructure, expanding its international network, and increasing its entry points to Europe by providing an eastern gateway via Greece through the new subsea system.

Talaat said that more than 90 percent of the data flow between East and West passes via Egyptian territorial waters and lands, pointing out that the agreement is the culmination of ten months of hard work since the start of the negotiations during his February visit to Greece.

During his previous visit, Talaat witnessed the signing of a Memorandum of Understanding (MoU) between Telecom Egypt and Grid Telecom to connect the two countries using subsea cable systems.

The system will connect Port Said in Egypt to Crete island.

The Managing Director and CEO of Telecom Egypt, Adel Hamed, said that the new agreement would give additional value to the company’s worldwide reach to more than 140 destinations in over 60 countries.

Chairman and CEO of IPTO Manos Manousakis explained that IPTO Group is taking the initiative to transform Greece into a binding energy and data hub of high geopolitical value at the crossroads of Europe, Africa, and Asia.

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Three Saudi-Yemeni Companies Established in Energy, Telecom to Support Yemen's Reconstruction

The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
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Three Saudi-Yemeni Companies Established in Energy, Telecom to Support Yemen's Reconstruction

The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)

The Saudi-Yemeni Business Council, part of the Federation of Saudi Chambers, announced six initiatives to boost trade and support Yemen’s economic development at a meeting in Makkah, Saudi Arabia.
Over 300 Saudi and Yemeni investors attended, agreeing to establish three companies to help rebuild Yemen and improve its infrastructure.
The initiatives include upgrading border crossings to improve logistics and increase trade, currently valued at 6.3 billion riyals ($1.6 billion). Yemen’s exports to Saudi Arabia, worth only 655 million riyals ($174.6 million), highlight untapped potential in mining, agriculture, livestock, and fisheries.
Key recommendations to enhance trade and support Yemen’s economic recovery include setting up quarantine facilities for Yemeni livestock and agricultural products to increase exports, as well as building smart food cities near border areas to improve food security and sustainable cooperation.
The Council urged action to address banking challenges faced by traders, suggesting reforms in Yemen’s financial sector and stronger ties with Saudi banks. It also proposed creating a club for Yemeni investors in Saudi Arabia to encourage joint projects and partnerships.
Three new Saudi-Yemeni companies will be established. One will invest $100 million in solar energy to provide sustainable electricity in Yemen. Another will focus on boosting telecommunications via Starlink satellite services. The third will organize events to promote Saudi products and support Yemen’s reconstruction.
Speaking to Asharq Al-Awsat, Council President Dr. Abdullah bin Mahfouz emphasized the private sector’s critical role in stabilizing Yemen’s economy and society through investments that support development, create jobs, improve infrastructure, and promote small and medium-sized enterprises (SMEs).
He stressed the importance of empowering Yemeni entrepreneurs and securing funding for reconstruction projects, encouraging public-private partnerships to execute large-scale initiatives under the Build-Operate-Transfer (BOT) model.
The Makkah meeting ended with agreements between Saudi and Yemeni companies to develop key sectors such as energy, agriculture, and infrastructure.
Streamlined customs, improved logistics, and upgraded Yemeni ports and airports were also highlighted as priorities to facilitate trade.
Yemeni delegation leader Abdulmajid al-Saadi, praised Saudi Arabia’s new investment law, noting Yemeni investments in the Kingdom have reached 18 billion riyals ($4.8 billion), ranking third among foreign investors.