A new Atlantic Ocean undersea fibre-optic cable project to connect Africa, South America, North America and Europe, has been launched.
Wasace Cable Company Worldwide will build and operate the new undersea cable, which was said to be the first trans-Atlantic system to deploy the next generation 100 G technology - ten times the capacity of previous systems.
The Wasace project, which comprised a total fibre length seven times the earth’s circumference, would enable access to a previously unavailable quantity of affordable Internet communication capacity. It would also connect the rapidly growing markets of Africa and Latin America with the commercial markets of North America and Europe, through the first-ever high-capacity cable to span the South Atlantic.
The new, diverse cable routes included Wasace North, connecting Europe to North America; Wasace South, connecting South America to Africa; Wasace America, connecting South America to North America; and Wasace Africa, connecting Nigeria, Angola and South Africa.
Private equity investment firm VIP Must would provide Wasace's financing and marketing and media strategy, as well as institutional support. Other investors included the African Development Bank and a number of Brazilian groups.
US-based international communication systems development group David Ross Group has been elected to manage the project development.
Wasace Cable Company Worldwide Holding, led by chairperson and CEO Ramón Gil-Roldán y Sansón, was formed to meet the rapidly evolving needs of developing markets in the Southern Hemisphere.