Bermuda Business To Get Faster Internet
Cable & Wireless Bermuda Limited has announced a US$22 million investment
in a next generation fibre optic cable and associated infrastructure over the
next two years, significantly enhancing the telecoms services it provides to
Bermuda's international business community. Eddie Saints, Chief Executive of Cable & Wireless Bermuda, confirmed the
investment during the Bermuda International Business Association annual forum
in London, attended by Paula Cox, Deputy Premier and Minister
of Finance; and Neletha Butterfield, Minister of the Environment,
Telecommunications and E-Commerce. Cable & Wireless has provided international fixed line services to Bermuda
for 117 years and also provides fibre-based data and broadband services to businesses
through its Bermuda associate Quantum Communications Limited. The 800-mile-long cable is due to be operational by the end of October 2007
and will link Bermuda with the USA. It has 700 times more capacity than the
PTAT-1 cable it replaces and will provide Cable & Wireless Bermuda and Quantum
Communications Limited customers access to the Cable & Wireless global network. Saints said: "The new undersea cable will satisfy the growing demand for
diverse, reliable high-speed data and broadband services, which cannot be provided
by the restricted capacity of the current cable. "This investment will also enable us to provide direct international access
to all three diverse fibre optic cable systems serving Bermuda from our Teleport
facility in Devonshire parish on Main Island, benefiting Bermuda's international
business and residential community." Separately Cable & Wireless said that it is unlikely to proceed with its
plans to acquire an interest in KeyTech Ltd, the holding company for the alternative
telecommunications company in Bermuda, because of the considerable uncertainty
surrounding the proposed new telecoms regulatory framework. A comprehensive report in our Intelligence Report series examining offshore e-commerce and online gaming is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report6.asp
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