During the recent official visit between His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister of the Kingdom of Saudi Arabia, to Greece, Saudi Telecom and Greek Telecom Company, entered into a strategic partnership to build a data cable project, called Med Data Corridor (EMC) undersea and land fiber optic data cable that will link Europe with Asia. The cable project will ensure the smooth digital supply of data worldwide.
The partnership comes at a time when the world is witnessing a 30 percent growth in data traffic.
Saudi Telecom Company (STC), Greek Telecom Company; the General Energy Company in Greece and Cyprus Telecom Company will collaborate on the EMC submarine cable project. As per the Saudi News agency, the project will contribute to strengthening KSA’s position as a regional digital hub centre in line with the goals of the Kingdom’s Vision 2030.
Saudi Telecom Group CEO, Eng. Olayan Mohammed Al Wetaid, said “this important signing represents another validation of the execution of our DARE2.0 strategy as we build out our complete digital ecosystem with an expanded scope, increasing scale and accelerating pace. We are pleased to be building out even further our integrated system for the benefit of our clients and customers, as we look to further establish our digital credentials and contribute to Vision 2030 and become a leading digital company and regional digital hub linking three continents.”
The EMC submarine project will position Saudi Arabia and Greece as digital stations in both MENA and Europe. The project is part of Greece’s strategic digital transformation plan as well as KSA’s ambitions to be a digital hub.
The project will contribute to the acceleration of the global digital economy which is estimated to reach $15 trillion.
To date, 10 percent of the global capacities of submarines cables pass through the Kingdom of Saudi Arabia.
