PPC does not stop at the creation of an optical fiber network (FTTH) as far as its activity in Information and Communication Technologies (ICT) is concerned.
In a conference call following the first quarter results, its management announced the creation of a data center with a capacity of 25 MW, as well as the provision of Artificial Intelligence services.
At the same time, the management referred to the completion of the financing agreement for the construction of the EMC (East To Med Data Corridor) underwater and terrestrial cable data transmission system that will connect Asia with Europe, a matter highlighted by “Naftemporiki”, adding that the project (first phase) enters into its construction phase.
It is recalled that the EMC implementing body includes Saudi Telecom (STC – the Saudi provider of telecommunications services in the Kingdom of Saudi Arabia and among the main providers in the Middle East) with 72%, PPC with 25% and Telecommunication Telephony Satellite Applications – TTSA (telecommunications company based in Greece with offices in Cyprus and Switzerland) with 3%.
550 million euros in the first phase
The first phase of EMC is an investment of approximately 550 million euros. The financing agreement was recently signed between the interested parties for a total amount of 340 million euros.
National Bank will lend EMC 165 million, Piraeus Bank will lend 65 million, Alpha Bank 50 million, while Aljazira participates with 50 million. 40% of the cost of the project is covered by its creators, depending on their percentage in the implementing body.
