Eng. Atef Helmy, Egyptian Telecom Minister, revealed that Orascom Telecom Media Technologies - OTMT (OTMT.CA) has held a meeting with the country's telecom regulator - the National Telecommunication Regulatory Authority (NTRA) yesterday to review MENA submarine cable dilemma. The Minister has informed Amwal Al Ghad that it is expected the participation of Telecom Egypt (ETEL.CA) as a provider for cables in the land area across Egypt. He noted that the MENA submarine cable impasse will be resolved within days. Helmy has explained that Egypt's location passes through 19 submarine cables by 160.000 kilometers and during the next phase this challenge should convert into an opportunity to attract foreign investment for global firms and create a global platform for cloud computing which hosting data and information within Egypt and to encourage global firms for investments. Karim Bishara, CEO and Managing Director of Orascom Telecom Media Technologies , has asserted that his firm will not sell its long submarine communications cable system Middle East and North Africa for Sea Cables (MENA). He indicated that OTMT plans to continue its investments in MENA cable despite the current obstacles in Egypt, with cost up $30-60 million. Bishara has pointed out that his firm is committed to complete the submarine cable whether directly or indirectly as a partnership with TE. OTMT announced in a previous statements that no final agreement has been reached yet with Telecom Egypt (TE) (ETEL.CA) as regards its long submarine communications cable system Middle East and North Africa for Sea Cables ("MENA"). OTMT further added that it continues talks with TE to acquire the cable in line with its strategy. Helmy confirmed that an agreement has been reached with OTMT as regards its submarine cable MENA. He added that the remaining part of the cable inside the Egyptian territory will be linked to Telecom Egypt. OTMT further added that it continues talks with TE to acquire the cable in line with its strategy. Bishara said Orascom is managing two cables across worldwide in different regions, Pakistan, which is currently working regularly , in addition MENA cable that connects between India and Italy through Egypt and Saudi Arabia, and also Mead cable, which acquired by Orascom Telecom recently and connects between Algeria and France. Bishara has confirmed that the size of MENA's submarine cables investments reached $370million,pointing out that that the ownership structure of the company is divided between 95% of Orascom Telecom and 4% for the company to Link Egypt for trade and services and 1% for In-Touch of telecommunications services. It is likely for the submarine cable to extend across Asia throughout Saudi Arabia during subsequent period and the time of licensing submarine cables reached for 20 years which granted by NTRA to MENA for the Middle East and North Africa, which will market and manage it. NTRA has granted three licenses for submarine cables started from 2006 for Arab Submarine Cables Company, then MENA's company license in August 2008, TE obtained the third license in November 2008,and it has recently marketed around 50% of cables worth $220million.
