NewsLocalCyTA is part of East Med Corridor sealed deal worth about $850...

CyTA is part of East Med Corridor sealed deal worth about $850 million

The Cyprus Telecommunications Authority (CyTA) is participating in Tuesday’s sealed deal between Greece and Saudi Arabia to lay an undersea data cable that will connect Europe with Asia.

The East Med Corridor (EMC) is a project of geostrategic importance with transnational support which makes best use of the geographical position of Cyprus, Greece and Saudi Arabia.

The aim is to establish an international digital avenue which is more than necessary for the global economy, Philenews reports.

It complements and upgrades the existing telecommunications infrastructure that Cyprus has and puts it at the center of communication, potentially turning it into a gateway connecting Asia with Europe.

Starting in Singapore, the EMC will pass through Saudi Arabia, Israel, Cyprus and Greece and end in Italy and France.

Its construction will begin next fall and is expected to be completed and put into operation at the end of 2025.

The total cost is about $850 million and will be developed by CyTA, MENA HUB companies of Saudi Arabia and Greece’s TTSA and PPC.

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