Telecommunication giants Dhiraagu and Ooredoo Maldives on Tuesday signed an agreement to lay a second submarine cable.
The companies signed a multiparty agreement to lay an International Fibre Optic Submarine Cable System between Maldives and Sri Lanka. The project was handed over to Huawei International Pvt Ltd.
While both Dhiraagu and Ooredoo Maldives each have a 45 percent share of the cable, the remaining 10 percent is granted to a Sri Lankan telecommunication company, Dialog Axiata Group.
Dhiraagu and Ooredoo allocated USD 8.4 million and USD 9 million respectively for the project expenditure.
The two telecom companies commenced their first submarine cable projects in 2011 and 2016 respectively.
The new fibre optic submarine cable is expected to significantly improve bandwidth locally and internationally, strengthening network connectivity across Maldives.
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