Retelit plans the investments around its participation in the AAE-1 Consortium
16 October 2014Price sensitive | Press releases
With its entry into the consortium that will lay the AAE-1 undersea cable system, Retelit is set to become one of the leading telecommunication gateways for the Mediterranean.
145 million Euro in returns are envisaged over the first ten years of the "AAE-1 undersea cable" project, against an overall initial investment of 58 million Euro and a further 12 million Euro that will be spent during this time to develop the inherent business. Furthermore, thanks to the expected infrastructure investments, additional revenue could be generated with the increased capacity and extension of the network into Italy and Europe.
The project will be financed using its own resources with debt and equity resources procured following the strategic investment agreement signed with KBC Telco Infrastructure Pty Ltd, a company fully held by Keybridge Capital Limited (Australian company listed on the AMX).