Ocean Connect Maldives (OCM) has signed an agreement with Housing Development Corporation (HDC) to lease land in Hulhumale Phase II to establish the Submarine Cable Landing Station for OCM’s ongoing International Submarine Cable Project. This project aims to provide next-generation multi-terabit global connectivity via the India-Asia-Xpress (IAX) cable system, which will directly connect Maldives to major internet hubs in the region.
Earlier this year on February 21, OCM entered a contract with Reliance Jio Infocomm Ltd (JIO), India’s largest 4G and mobile broadband digital service provider, to connect Maldives to leading Submarine Cable hubs in the Asia region. This initiative launched by the Government of Maldives is expected not only to meet the growing data demands, but also is expected to bring down the Internet tariffs to more affordable rates for the public.
To initiate the handover of the land, a special ceremony was held at HDC on November 05, 2022 (Monday), where Managing Director of OCM, Mr. Hussain Shihab and Managing Director of HDC, Mr. Ahmed Athif signed the land lease agreement for the Submarine Cable Landing Station.
The 200 Tbps IAX system, originates in Mumbai in the west and connects directly to Singapore, with branches including additional landings in India, Malaysia, and Thailand and the cable is expected to be ready for service by the end of 2023.
About Ocean Connect Maldives Pvt Ltd
Ocean Connect Maldives Private Limited (OCM) is a new legal entity 100% owned by the Government of Maldives and established under the Maldives Fund Management Corporation Limited (MFMC) as a subsidiary. OCM will be categorized as an ICT infrastructure company to invest in physical and digital infrastructure and promote inclusive digital networks and services to help address the digital divide and drive the next stage of Maldives’ growth. Investing in the IAX cable system will be the cornerstone for OCM’s “new digital economy of Maldives” that envisions to create a fully connected Maldives without barriers for rapid digital transformation.
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