Grid Telecom, a wholly owned subsidiary of the Independent Power Transmission Operator (IPTO) of Greece and Dawiyat Integrated, a wholly owned subsidiary of Saudi Electricity Company (SEC), signed a Memorandum of Understanding (MOU) for a strategic collaboration to build a new high-capacity cable system connecting Greece with the Kingdom of Saudi Arabia.
This MOU is a testimony of the strategic cooperation between Grid Telecom and Dawiyat Integrated, which is aligned with their strategy in expanding their international networks. The new cable system will connect Saudi Arabia to the Island of Crete extending westwards to major destinations in Europe and eastwards to the entire Arabian Peninsula. The partnership between Grid Telecom and Dawiyat Integrated will provide synergies for their participation in additional transformative projects that create long-term value, such as the development of hyperscale-ready data centers, providing gateways between continents.
Dawiyat Integrated, is a neutral wholesale service provider in the Kingdom of Saudi Arabia, with licenses to build and operate international cable systems and cable landing stations. Its future investments in digital infrastructure will enhance Saudi Arabia’s digital transformation and business development, aiming to position Dawiyat at the forefront of the telecommunications industry, by providing state-of-the-art integrated and innovative solutions to its customers. Grid Telecom is emerging as the prime wholesaler in the Greek market, exploiting IPTO’s extensive optical network in Greece and neighboring countries, integrating this with its own fiber networks and points-of-presence, creating a new carrier neutral, open-access, connectivity hub in the Balkan – Mediterranean region. The strategic partnership between Grid Telecom and Dawiyat Integrated will bring advanced data transport solutions to the market, creating a new telecommunications bridge between Europe and the Middle East.
The Chairman of Grid Telecom, Kostas Agathakis, said: “We are continually looking for ways to strategically expand our services to partners and customers. In this framework, our collaboration with Dawiyat Integrated in building a new cable system, will support the implementation of a new corridor between Greece and Saudi Arabia. Moreover, it will enhance the strategic role of Crete as a regional open-access interconnection node in the Eastern Mediterranean and the Balkans”.
The CEO of Dawiyat Integrated, Wael Ali Al-Ghamdi, said: “With the increasing demand for connectivity regionally and globally, Dawiyat Integrated is continuously working on enhancing and extending its international network. Our partnership with Grid Telecom in a consortium to build a new cable system will increase our network’s resiliency and reach. Leveraging on the strategic position of Crete, it will create a new cable system, interconnecting the Kingdom of Saudi Arabia with Greece and the Balkans, providing a new entry point to Europe”.
The Chairman and CEO of IPTO, Manos Manousakis, said: “IPTO is building critical infrastructure for tomorrow’s electricity and telecommunications backbone networks throughout Greece and beyond, interconnecting the future. IPTO is already collaborating with Saudi Electricity Company (SEC) through its wholly owned subsidiary National Grid, by establishing “Saudi Greek Interconnection”, as a special purpose company for conducting feasibility studies related to the implementation of the Greece-Saudi Arabia electricity interconnector and now, by joining forces with Dawiyat Integrated, also wholly owned by SEC, for building a new diverse cable link in the Eastern Mediterranean, bringing innovative total telecommunications solutions in the region. In this way, we fully exploit synergies and create win-win Eurasian business opportunities, transforming both Greece and the Kingdom of Saudi Arabia into critical energy and data hubs of high geopolitical value, at the crossroads of Europe, Africa and Asia.”
