A Memorandum of Understanding was signed today between the government of Albania and the 4iG, a Hungary-based regional ICT/telecoms group, on construction of a direct underwater cable between Albania and Egypt, another strategic and innovative project designed to turn Albania into an international interconnection hub.
The fiber-optic cable networks are digital communication highways and the project will provide subsea intercontinental connection for Albania, also linking Africa and Asia.
The agreement was signed by the Minister of Infrastructure and Energy Belinda Balluku and Péter Fekete, Chief Executive Officer (CEO) of the 4iG Group, which owns Albanian ONE Telecommunications, during a special ceremony also attended by Prime Minister Edi Rama.
“As the first system connecting the two countries, the planned route of the subsea cable in the Mediterranean it will be a unique one and it will enhance the diversity of digital routes that connect the Mediterranean in the traditional way, namely the ones linking Egypt with France and Italy, providing this way a third option. This system will own a significant share of the large and developing data traffic market between Asia, the Middle East and, of course, Europe,” the Infrastructure and Energy Minister Balluku explained in her remarks, adding among other things that the investment is estimated at 100 to 115 million euros.
On his part, 4iG Group’s CEO Péter Fekete said in his remarks at the ceremony that the project marks a milestone in Albania’s digital transformation.
“The deal we are signing today is a testimony to 4iG commitment to Albania and Albanian economy in many directions. The project will allow Albania become a new entry point and a strategic hub for African, Middle Eastern and Asian operators. The project marks a milestone moment in Albania’s digital evolution,” he stated.
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Prime Minister Edi Rama: Good afternoon everyone! I would like to wholeheartedly thank 4iG, the company currently owning and managing the Albanian mobile company ONE and which today emerges as a partner of the Albanian government to build Albania’s first intercontinental cable, which will turn Albania into a central hub for the fast and secure data transfer through a fiber optic linking Egypt and Albania, enabling our country to guarantee access to this new route, this digital highway of the Mediterranean for several countries in Central Europe.
I think that in one hand the project is welcome, because it significantly enhances the number of projects we’re launching to transform Albania into a regional champion in innovation, but, on the other hand, this is also an important project in terms of the business and entrepreneurship confidence, which keeps increasing each year and that is in this case materialized through 4iG group that picked Albania as a reference point for this immensely important project.
At first sight, the project doesn’t entail any mindboggling investment figure, but in its very essence the project itself is a stunning project in terms of the impact and the value it will generate.
So, expressing my appreciation to all the decision-makers and the 4iG team, as well as voicing fully confident that our side will live up to the entire project implementation project and deliver on this project by making this digital highway operational, I am pretty convinced that this project marks a milestone on our path towards Albania 2030 plan and will definitely be followed by more projects equally ambitious that will coincide with Albania’s new current level.
Thank you!