Consortium to invest $110m for first private submarine cable
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Dhaka, Dec. 4 -- A consortium of three private submarine cable companies is set to invest $110 million to set up a separate submarine cable network in a boost to the country's internet connectivity.
The consortium comprising Summit Communications, CdNet Communications and Metacore Subcom Ltd. had intended to invest more but the recent foreign exchange crisis forced them to scale down the investment size.
The investors said the first ever private submarine cable would connect Bangladesh with the outside world in around March next year for data transmission.
The consortium is expected to add around 50,000 Gbps of bandwidth to the national internet highway, which might reduce the cost of internet significantly, said one of the top officia...
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