Cyprus a key hub for ‘digital highway’

A crucial milestone is expected in March for the East to Med Data Corridor (EMC) telecommunications submarine cable system, an ambitious project aimed at creating an "international digital highway," where Cyprus, Greece and Saudi Arabia are key components.

According to Kathimerini's Cyprus edition, funding for the EMC cable project will involve prominent banks, including National Bank of Greece (Cyprus), Alpha Bank, Piraeus Bank and AlJazeera Bank, totaling $300 million. The financing is set to pass through Cyprus, primarily facilitated by the NBG (Cyprus), with Alpha Bank Cyprus' involvement still uncertain.

The project's primary objective is to start construction of the EMC cable in the summer of 2024. The cable's first phase aims to connect Europe with Saudi Arabia, followed by a second phase linking Saudi Arabia to the rest of Asia.

Notably, the telecoms...