IPTO investing in Cyprus through its telecommunications subsidiary

Grid Telecom, a telecommunications services provider and subsidiary company that belongs to Greece’s Independent Power Transmission Operator (IPTO) and Tamares Telecom, a leading international wholesale telecommunications service provider and operator of fiber optic networks, a subsidiary of Aluma Infrastructure Fund, have announced a strategic partnership.

According to a press release from the companies, the partnership aims to strengthen digital connectivity in the Eastern Mediterranean, with the development and operation of a state-of-the-art cable station and coastal infrastructure in Cyprus.

According to the announcement, which was in Greek, the partnership between the two companies lays the groundwork for the creation of critical infrastructure with the development of a telecommunications hub on the west coast of the island for the safe anchoring and interconnection of undersea fiber optic cable systems crossing the Eastern Mediterranean between Europe and the Middle East.

The open access connectivity hub will connect Cyprus, to the west with Greece and Southeast Europe and to the east with Israel, Egypt and the Arabian Peninsula, providing wholesale and corporate customers with alternative and reliable international data traffic routes, with significant benefits, such as low response, strong backup, high speed and advanced cyber security, the announcement notes.

The press release describes this strategic alliance as a milestone for the expansion of regional digital infrastructures and the promotion of sustainable development in the new era of the data economy.

Taking full advantage of the geographical location of Cyprus, the collaboration between Grid Telecom and Tamares Telecom creates a neutral open access cable station that will interconnect local and international submarine and terrestrial optical networks, providing advanced data transfer services and terminal equipment hosting for the secure sealing of submarine cable systems in Cyprus, as well as additional data center services and technical support at the level of business applications, it says.

According to the same announcement, Tamares Telecom is already cooperating with Grid Telecom on the construction and operation of the "ANDROMEDA" fiber optic cable system that will branch off at the cable station in Cyprus and extend to other important western and eastern destinations, connecting Greece, Cyprus and Israel, with a new high-capacity telecommunications corridor between Europe and the Middle East.

According to the announcement, Grid Telecom is emerging as a leading wholesale telecommunications provider in the Greek market, as it supports its rapid development IPTO’s extensive optical network in Greece and neighboring countries, integrating it with its own international points of presence and optical fiber links that it continuously develops, achieving thus network diversity, maximum security and extremely low latency in data switching.

Tamares Telecom operates the proprietary submarine fiber optic system “TAMARES-NORTH” which it has installed between Israel and Cyprus, which extends to multiple international destinations, providing customized communication solutions through advanced infrastructure and cloud computing services.

The press release also quoted the Chairman of Aluma Infrastructure Investment Fund, Ori Yogev, as commenting, "Tamares Telecom is constantly developing and expanding its national and international infrastructure. Our collaboration with Grid Telecom and IPTO for the acquisition of a state-of-the-art cable station in Cyprus, alongside our collaboration for the construction and operation of the “ANDROMEDA” cable system, will enhance security and add value to our operations in Europe and the Middle East. Our investments in new strategic projects provide multiple levels of infrastructure diversification, and include the development of submarine cable sealing facilities as well as new fiber optic cable systems, thus meeting the market demand for high-quality data transport solutions, through a telecommunications bridge between the East and West."

Also through the announcement, the Chairman and CEO of IPTO, Manos Manousakis, stated, "Through strategic synergies, the IPTO group strengthens its international presence and contributes to the development of critical electrical and telecommunication infrastructures at the regional level. The cable station for the sealing of undersea fiber optic cable systems in Cyprus will allow the direct interconnection of international data corridors passing through the Eastern Mediterranean. IPTO projects such as the electrical interconnection " Great Sea Interconnector " between Crete-Cyprus-Israel and the new cable station that will be developed by our subsidiary Grid Telecom in collaboration with Tamares Telecom, create a rich infrastructure ecosystem for the energy and digital transformation both of Cyprus as well as the wider region in the Eastern Mediterranean."

(Source: InBusinessNews)