[THE INVESTOR] Telecommunications firm KT said on Oct. 30 that it has installed network solutions, which allow up to 1 gigabit per second internet connection speed over the existing copper lines, at the Suez Canal in Egypt.
The US$10-billion supply deal of the network solutions is the single largest contract for KT’s GiGA Wire business since the Korean telco first commercialized the network technology in 2015.
Yoon Yeo-cheol, Korean ambassador to Egypt, KT CEO Hwang Chang-gyu and GGTT Chairman Mohamed Roushdy pose at the MOU ceremony for a project to upgrade ICT facilities in the Suez Canal, Egypt. KT
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The network, which utilizes copper wires to offer gigabit-speed connections, is considered the best fit for improving outdated internet infrastructure at historic buildings or sites, which need to remain intact.
The installation is part of a joint project led by the Korean firm, Suez Canal Authority -- which oversees the canal that connects the Mediterranean Sea to the Red Sea -- and KT’s local business partner GiGA Global Telecom & Technology to refurbish the ICT infrastructure of the Suez Canal.
Egypt, which has a number of historic and cultural assets, has had difficulty in renovating its old network facilities in the fear of destroying heritage sites.
The newly installed GiGA Wire solution was showcased at an MOU signing ceremony at the head office of the canal authority in Ismaillia, Egypt, on Oct. 29.
KT CEO Hwang Chang-gyu, SCA chief Mohab Mameesh, GGTT Chairman Mohamed Roushdy and executives from the partner firms participated in the event where they vowed to cooperate to improve ICT infrastructure in the region.
SCA has been trying to build an economic zone near the Suez Canal since 2015, constructing industrial complexes, ports and shipyards, and projects to upgrade the ICT infrastructure in the area are also underway.
“The latest partnership will not only improve Egypt’s ICT competitiveness, but also help KT expand its global presence,” KT CEO Hwang Chang-gyu said.
KT has been teaming up with governments and telecom companies in global markets to deploy its network solutions. Boston, Botswana and Malaysia are some of the areas that will have KT’s GiGA Wire technology up and running in the coming months.
By Kim Young-won (firstname.lastname@example.org)