[Global Crossing Receives $80 Million Capacity Purchase From Irish Government; Will Build Advanced Undersea Cable System for Ireland]
* Irish government to be system's anchor customer under $80 million contract
* New independent cable system will dramatically lower international communication costs for Ireland
* Global Marine Systems will provide marine installation and maintenance under long-term agreement.
DUBLIN, Ireland, July 5 /PRNewswire/ -- Global Crossing Ireland, a wholly owned subsidiary of Global Crossing Ltd., announced today that it has reached agreement with the Irish government to build an undersea fiber optic cable system that will link Ireland's leading companies and multinationals to the major cities of Europe and the world. Global Crossing will develop and own the system.
This state-of-the-art undersea system will link two of Global Crossing's Irish telehouses, via two diverse fiber cables, connecting Ireland to the world's largest cities through the Global Crossing Network. The Irish Government will be the system's anchor customer under an $80-million agreement. Global Marine Systems Ltd., a wholly owned subsidiary of Global Crossing, will provide installation and maintenance for the undersea portion of the Irish system.
"Ireland is moving very fast to take a commanding lead in the global e-commerce economy," said Global Crossing Chief Executive Officer Bob Annunziata. "We are very pleased to be asked to build such an important part of the advanced electronic infrastructure needed by Digital Ireland. The world is now calling Ireland the Celtic Tiger, and with good reason. The Irish Ring will dramatically lower communication costs for Ireland and add huge capacity and state-of-the-art connectivity to continue the astonishing growth in the Irish economy."
Under the terms of the agreement, IDA (Industrial Development Authority) Ireland will transfer the capacity to Ireland-based telecommunication carriers and service providers, thereby establishing a Public Private Partnership. Furthermore, Global Crossing will co-operate with IDA Ireland to assist in that resell effort.
"We are committed to promoting the growth of strong, indigenous Irish companies that are full participants in the digital age," said Ireland's Minister for Public Enterprise, Mary O'Rourke. "Ireland must be and will be an attractive location for internationally mobile investment. High-quality, competitive Internet access is vital to that future."
"We estimate that Ireland's 'e-commerce,' the contribution of Irish web-based and data-based businesses, will grow 100 fold by 2002," added Minister O'Rourke, "but only if competitive broadband capacity and international connectivity are in place. Global Crossing's confidence in the Irish economic bloom and its commitment to the Irish Ring as manifested through this agreement is an important factor to ensure that projection come true." |
