Presence of the Minister of State and Digital Government Kyriakos Pierrakakis, the Egyptian counterpart of Dr. Amr Talaat and the Charge d’Affaires of the Egyptian Embassy in Athens Mohamed Elghazawy signed a Memorandum of Understanding (MoU) of strategic importance between Grid Telecom and Telecom Egypt on Wednesday afternoon. The Memorandum of Cooperation, which has as its object the telecommunication interconnection of Greece and Egypt, was signed at the IPTO headquarters in Athens, by the President and CEO of IPTO Manos Manousakis and the CEO of Telecom Egypt Adel Hamed.
Grid Telecom is a subsidiary of the Independent Electricity Transmission Operator (IPTO) and Telecom Egypt is the first integrated telecommunications company in Egypt and one of the largest submarine cable system operators in the region. The strategic agreement lays the foundations for the exploration of alternative connectivity options between Greece and Egypt, as well as the optimal utilization of the state-of-the-art and international networks of Telecom Egypt and Grid Telecom, through their existing and future visual interconnection with neighboring countries.
On the occasion of the signing of the Memorandum, bilateral talks were also held between Ministers and high-ranking government officials of the two countries on a number of issues, including Artificial Intelligence, Innovation and Entrepreneurship.
Telecom Egypt’s international network extends to over 140 connection points in more than 60 countries around the world. The company has invested extensively in its submarine cable infrastructure and provides the shortest and most reliable transit route between Africa, Asia and Europe, making Telecom Egypt, over the years, a preferred partner of many international telecommunications operators.
Grid Telecom, with a domestic fiber optic network that currently exceeds 4,000 km, is the vehicle of IPTO in the telecommunications market, already offering multiple optical connectivity between Crete and mainland Greece. IPTO’s subsidiary, taking advantage of its network infrastructure in Italy, the Balkans and Central Europe, is exploiting its position as a key neutral telecommunications services hub in Europe.
The Minister of State and Digital Government Kyriakos Pierrakakis stated: “Today’s signing of the Memorandum of Cooperation between Grid Telecom and Telecom Egypt is the beginning of the telecommunication interconnection of Greece and Egypt with a submarine network infrastructure, while the possibility of cooperation is being considered. This is an important agreement between the two companies, as the route of the network allows the connection of our countries and our continents, while at the same time ensuring the exponential development of technology ecosystems “.
The Minister of Telecommunications and Informatics of Egypt Dr. Amr Talaat said: “We welcome the growing bilateral cooperation between our two countries in the framework of the Euro-Mediterranean Partnership. “This new partnership between two strategic players in the region aims not only to improve the interconnection between Egypt and Greece, but mainly to meet the growing and future needs of the countries of Africa, the Middle East and Europe.”
IPTO President and CEO Manos Manousakis said: “IPTO, expanding the relations it has already developed in Egypt for the creation of electricity transmission infrastructure, begins a constructive cooperation with Telecom Egypt and lays a strong foundation for new international interconnection projects. of the two countries, which now extend to Telecommunications. The signing of a strategic Memorandum of Understanding between IPTO and one of the largest companies operating submarine telecommunication cables in the world, further upgrades the international development strategy of our Group and can actively contribute to the emergence of Greece as a key telecommunications hub.
Adel Hamed, CEO and CEO of Telecom Egypt, commented: “We are pleased to work with Grid Telecom as this partnership strengthens our strategy to further expand our international infrastructure and increase the geographical diversity of our assets. us. With Grid Telecom as an important strategic partner, we will be able to expand our reach in Europe, through the extensive network of the Company within and beyond the Greek borders “.
The Director of Grid Telecom, George Psyrris, stated: “Grid Telecom, in just three years since its establishment, has reached important business agreements inside and outside the Greek borders and is already recognized as one of the main providers in the wholesale telecommunications market. The signing of this Memorandum with Telecom Egypt marks the beginning of an important cooperation with a strong ally, strengthening our international presence and reaffirming the market confidence in the prospects for further development of our Company “.
About IPTO
The Independent Electricity Transmission Operator (IPTO) is responsible for the operation, control, maintenance and development of the National Electricity Transmission System, in order to supply the country with electricity in a safe, efficient and reliable way. The company’s vision is to become one of the most effective and extroverted Managers in Europe, ensuring added value for society and its shareholders, while respecting people and the environment. IPTO, within the framework of the Ten-Year Development Plan, plans and implements strategic projects amounting to 5 billion euros with the aim of upgrading and expanding the electrical interconnections in mainland and island Greece. www.admie.gr
About Grid Telecom
Grid Telecom was founded in January 2019, is a 100% subsidiary of the Independent Electricity Transmission Operator (IPTO) and is IPTO’s vehicle for the provision of telecommunications services to national and international providers. www.grid-telecom.com
About Telecom Egypt
Telecom Egypt is the first integrated telecommunications company in Egypt to provide all telecommunications services to its customers, including fixed and mobile voice and data services. Telecom Egypt has a long history of customer service for more than 160 years, maintaining a leading position in the Egyptian telecommunications market and offering businesses and individuals the most advanced technology, reliable infrastructure solutions and a wider network of submarine cables. www.te.eg
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