Egypt's Orascom Telecom Media and Technology Holding (OTMT) announced on Thursday the launch of services in its MENA cable. OTMT said its subsidiary MENA submarine Cables systems (MENA - SCS) notified the National Telecommunication Regulatory Authority (NTRA) that the cable is fully operational. The fiber optic submarine cable system will connect Europe, Africa and Asia, and span the Mediterranean and the red sea and the Indian Ocean. The cable in its first phase of operation spans a distance of 8,800 KM and lands in Italy, KSA, Oman, and India passing through Egypt with the potential for expansion through additional landing points in East Africa and East of the Mediterranean Sea. MENA Cable plans to reach a 10% market share of the incremental addressable market with target sales over $140 M in the coming 3 years. The cable currently serves capacity for wholesale industries in Europe, Saudi Arabia, Oman, and India while reaching the GCC counties, and South Asia through MENA's partners. The company's expansion plans also include serving the Far East through partnerships with other international submarine cables. MENA Cable covers a footprint with a total market of almost 15,000 Gbps in 2015, expected to grow with CAGR of 40% year over year. CEO of MENA – SCS Maan El Amine said "It has taken us a long time to launch this project due to the unforeseen complications of permits within the territories of Egypt, but we are now excited to finally be in the market with a very promising project. MENA Cable will solve long prevailing problems for service providers who need a reliable solution connecting Asia with Europe. Through our substantial geographical reach and our large network of partners in India, Saudi Arabia and Oman, we are able to avail a reliable connectivity solution to a huge market." OTMT Executive Chairman and CEO Naguib Sawiris said "Launching MENA Cable is a very positive step towards consolidating OTMT's presence in one of its core businesses, the submarine cable business. It opens the door for us to serve vast markets in South Asia, Europe and the Middle East in addition to expansion opportunities in the Far East and Africa."
