Grid Telecom agrees with Tamares on Andromeda

Greece's Grid Telecom and Tamares Telecom have agreed to build an undersea fiber-optic telecoms cable to connect Cyprus and Israel to Greece, the two companies said on Thursday.

The project has been dubbed Andromeda.

Tamares, a unit of Aluma Infrastructure Fund, owns and operates a high-capacity undersea cable link from Israel to Cyprus, which is being extended to mainland Europe, Tamares said in a joint statement with Grid Telecom, a subsidiary of Greece's Independent Power Transmission Operator (ADMIE).

Through its partnership with Grid Telecom, Tamares will increase its entry points to Europe via Greece, by building an alternative low-latency eastern gateway to the Balkans and other destinations in Central and Western Europe, it said. {CRED}(Reuters)