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GreeceBusinessAn ambitious project for data transfer, strengthens the position of both countries,...

An ambitious project for data transfer, strengthens the position of both countries, diplomatic sources say

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The ‘East to Med Data Corridor’ – an EMC project – is a new submarine and terrestrial cable system for data transmission that will connect Europe with Asia via Greece and Saudi Arabia, diplomatic sources explained on Tuesday regarding the agreement signed by Greece and Saudi Arabia.

The project will make Greece the eastern gateway to the EU for the transfer of data and the Kingdom of Saudi Arabia a regional digital hub, the sources said, noting that it was led by by MENA HUB – owned by the company stc – on the part of Saudi Arabia and by TTSA on behalf of Greece. The Public Power Corporation (PPC) and CyTA Cyprus will also be shareholders in the project, pending final corporate approvals, the sources added.

The CEO of MENA HUB, Fahad Alhajeri, the President and CEO of PPC, George Stasis, the CEO of CyTA, Andreas Neokleous, and the Executive Director of TTSA, Alexandros Sinkas, signed a Heads of Terms agreement outlining the basic terms and obligations of each party in the implementation of the EMC Project. The text of the final agreement is expected to be signed by the end of July 2022 and the implementation of the project is expected to begin in early autumn. Completion of the project is estimated during the 4th quarter of 2025.

“This is a historic project that utilises the geographical location of Greece and Saudi Arabia to create a data corridor necessary for the global economy, while placing the two countries at the centre of transport, storage and data creation in Eurasia. The Hellenic Republic and the Kingdom of Saudi Arabia are committed to making every effort to speed up the launch of this important and ambitious project,” the diplomatic sources said.

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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