PTCL to hold ceremony for Africa-1 Cable

MG News | February 21, 2025 at 01:15 PM GMT+05:00

0:00

February 21, 2025 (MLN): Pakistan Telecommunication Company Ltd (PSX: PTC) is set to hold a groundbreaking ceremony on February 22, 2025, to mark the landfall of the high-capacity Africa-1 Submarine Cable at its landing site at Sea View, Karachi.

This milestone represents a significant advancement in strengthening Pakistan’s digital connectivity and telecommunications infrastructure.

PTC has been investing in the Africa-1 submarine cable project annually as part of its CAPEX since 2021.

As of 2025, approximately 75% of the total investment has been completed over four years, with the expectation that the full project cost will be reached within the year.

The project is expected to achieve its Ready for Service (RFS) status in Q1 2026, the company's filing on PSX revealed today.

Once completed, the Africa-1 submarine cable will become fully operational, allowing PTCL to generate revenue from the project and contribute positively to its top-line growth.

The Board of Directors approved an investment of $59.5 million for the Africa-1 submarine cable project in November 2020.

The initiative aims to provide connectivity between the UAE, Europe, and Africa, with multiple landing stations.

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