[AusNOG] Vocus + Nextgen to build Singapore Cable in early 2016

[Skeeve Stevens]

News of the Day..

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*Press Release from Vocus:*

*Response to Media Speculation - Vocus and Nextgen in discussions to build
Australia Singapore Cable*

Vocus Communications Limited (Vocus) notes the comments in today’s
Australian Financial Review regarding the Australia Singapore Cable (ASC).

Vocus confirms that it has signed a non-binding term sheet with Nextgen
Networks Pty Ltd (Nextgen) and is currently engaged in due diligence on the
opportunity.

Under the proposal, Vocus and Nextgen will form a 50/50 joint venture to
build ASC.

The 4,600km ASC will connect Australia to Singapore and Indonesia,
providing the first 100Gbit/s high-speed connection from Australia to
South-East Asia. The circa US$120m project will take approximately eighteen
months to complete, following finalisation of regulatory approvals and
other conditions. The project will be funded using a mix of cash, project
debt and customer pre-sales.

The proposal remains subject to certain conditions, including completion of
due diligence and regulatory approval, which are expected to be formalised
in coming months. The ASC project is scheduled to begin construction early
in 2016.
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...Skeeve


--

Skeeve Stevens - The ISP Guy - Internet Provider SME

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