July 07, 2013

PLDT joins $400-M submarine cable network

National Telecommunications Commission (NTC) has given dominant carrier Philippine Long Distance Telephone Co. (PLDT) the green light to participate in  the $400 million optical fiber submarine cable network that would interconnect countries in the Asia Pacific region.

NTC approved PLDT’s participation in the ownership, construction, and maintenance of the Asia Submarine Cable Express (ASE) submarine cable network for a period of 10 years and to construct the Philippine terminal station in Daet, Camarines Norte.

NTC pointed out that PLDT’s participation in the cable network through a $55-million investment is part of the company’s commitment to other landing parties and the terminal station is already operational. - WealthSec