Egypt invests $300 bln in developing submarine cables system

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The annual revenues expected to be gained through these investments amount to $7 billion, Talaat added.

From the beginning of the internet industry until 2016, Egypt has implemented 13 submarine cables, and other five are under process, Talaat said during the Hikayat Watan conference held on Saturday to showcase the country’s achievements in various fields since 2014.

"Around 90 percent of the data transferred worldwide passes through the Egyptian territorial waters due to its distinctive strategic location," he stated.

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 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.