Regarding the Irish project (see below), a simple question to you all: how does Global Crossing get paid for this? How are the payments structured? How much of the deal involves Global Crossing "collecting tolls" on the road after it is built versus getting paid beforehand to build the road. Sorry if this is ABC's to some of you. Any straightforward explanations welcome and appreciated.
12/17/99 - IRELAND BECOMING EUROPE'S E-COMMERCE HUB GOVERNMENT
INTERNET POLICIES SHAPED TO APPEAL TO THE MAJOR PLAYERS IN
CYBERSPACE
NEW YORK, Dec 17, 1999 /PRNewswire via COMTEX/ -- Ireland's campaign to attract
significant e-commerce investments has achieved remarkable success this year. A series of recent
investment decisions announced by key American companies, represent a significant step forward
for Ireland's plans to become the e-commerce hub of Europe.
Enda Connolly, the North American Director of The Industrial Development Agency of Ireland
(IDA Ireland), says, "Over recent months, there have been some dramatic developments in
e-commerce in Ireland. The extremely rapid development of this sector in the country is a clear
dividend for the Government's initiatives to shape a business environment adapted to e-commerce
business needs."
Mr. Connolly stated that, "e-commerce is fundamentally changing the way the world is doing
business and Ireland pulls out all the stops when it comes to accommodating change." "This is
clearly demonstrated by recent major Irish Government initiatives aimed at positioning Ireland to
be the most competitive e-commerce location in Europe," he said.
In July 1999, Global Crossing entered an agreement with the Irish Government to build an
undersea fiber-optic cable system linking companies in Ireland and internet users to the world. The
cable, which will be completed in spring of 2000, will provide "almost unlimited" additional
capacity and state-of-the-art connectivity to the already world-class Irish telecommunications
infrastructure. "This connectivity will be 15 times the current demand capacity requirement at 15%
of the cost," Mr. Connolly said.
Mr. Bob Annuziata, Chief Executive of Global Crossing stated "Ireland is moving very fast to take
a commanding lead in the global e-commerce economy". He added, "we are very pleased to be
asked to build such an important part of the advanced electronic infrastructure needed by Ireland." |
