Angola-Brazil subsea cable gains Japanese funding
04 April 2016 | Jason McGee-Abe
The Japan Bank for International Cooperation (JBIC) is to provide a $65.8 million loan to Angola’s state-run development bank to finance the construction of the South Atlantic Cable System (SACS), an optical submarine cable system between Angola and Brazil.
The SACS spans 6,200km and connects Sangano in Angola with Fortaleza in Brazil. Angola’s Banco de Desenvolvimento de Angola (BDA) will be receiving the loan, NEC and its subcontractors will be manufacturing and laying the submarine cable system on behalf of Angolan telecom operator, Angola Cables.
"This project will lay the world's first optical submarine cable across the South Atlantic, directly linking the African continent to South America," JBIC said in a statement.
"The optical submarine cable is then planned to be linked to the US-bound submarine cable under construction at the landing station in Brazil, building a vast communications network spanning from Angola to North America via South America."
The loan is to be co-financed with Sumitomo Mitsui Banking Corporation (SMBC), which will add $43.9 million to the project, making the total co-financing amount to approximately $109.7 million.
3m | Alan Burkitt-Gray
21h | Natalie Bannerman
22h | Natalie Bannerman
22h | Jason McGee-Abe