Cinia and MegaFon entered into a memorandum of understanding (MoU) to set up a joint venture to prepare the build of a submarine telecommunications cable across the Arctic Sea. The international project will create a completely new route to connect continents and also to fulfill connectivity requirements of the Arctic region. The Cinia alliance in this phase consists of Japanese and Nordic partners and an international investment bank. The main objective of the MoU is to establish the Development Company by Q4.
The Arctic cable will increase the redundancy of global networks significantly by providing a totally new route. At present, the global network backbone is lacking an optical submarine cable that connects Europe, coastal regions of Russia, Japan and North America. The 10,000-km Arctic cable will offer the lowest-latency sea route between Europe and northern Asia thanks to the shortest geographical route and the most sophisticated technology, Cinia said.
