First phase of data cable project linking East to West likely to end in Q1 2023: Greek Investment Minister

The data cable project linking the East to the West with Saudi Arabia is proceeding as scheduled, Greek Minister of Development and Investment Adonis Georgiadis told Argaam on the sidelines of the Future Investment Initiative (FII) held in Riyadh. 

He said the project is being carried out by a Saudi company, expecting the first phase to be completed in Q1 2023. 

Greece has several investment projects in Saudi Arabia's tourism and renewable energy sectors, with plans for other projects, the minister said.  

However, Georgiadis indicated that the volume of investments between the two countries remains low, as all major projects are in their initial stages, noting that several agreements were signed during the last official visit. 

Commenting on his participation at the FII, Georgiadis said he participated in several global events, and believed that the FII is one of the best events ever. 

Earlier, Saudi Arabia and Greece announced a strategic partnership between their private sectors to carry out the data cable project that links the East to the West, which will ensure a seamless digital supply of data globally, according to data available with Argaam. 

Saudi telco stc partnered with Greek telco TSSA and Public Power Corp. to build the East to Med Data Corridor (EMC) undersea and land fiber optic data cable. The agreements were signed during the visit of Crown Prince Mohammed bin Salman to Greece.