Minister of Communications and Information Technology Amr Talaat during the Hikayat Watan conference. Al-Ahram.
The annual revenues expected to be gained through these investments amounts to $250 million, Talaat added.
As of 2016, Egypt was connected to 13 submarine cables with another five under construction, Talaat said on Saturday during the Story of the Homeland conference held to showcase the country’s achievements since 2014.
In 2019, Egypt established the shortest submarine path, named the Golden Path, to transfer data between east and west with a 2650-kilometre length, the minister pointed out.
Talaat also highlighted that there are 10 cable landing stations in Egypt, in both the Mediterranean Sea and the Red Sea,
Talaat highlighted that Egypt increased the number of landing stations in the Mediterranean Sea and the Red Sea to 10, which will accelerate telecommunication signals and provide high-quality internet connectivity.
On Sunday, Telecom Egypt signed an agreement with the Medusa Submarine Cable System to extend the Mediterranean network to the Red Sea by the end of 2025.
Talaat also pointed out that the country has invested $2 billion to develop its digital infrastructure of high-speed landline internet, which has led to a nine-fold increase in speed over the past five years.
He previously noted that the total number of Egyptian fixed internet users has reached 70 million users.
*Correction: A previous version of the story incorrectly stated that the amount Egypt has spent on submarine cables as $300 billion.