MCI WorldCom, Others to Build Asia Undersea Cable
NEW YORK (Reuters) - Long-distance telephone company MCI WorldCom Inc. (NasdaqNM:WCOM - news) said on Wednesday it and other telecommunications companies will spend $800 million to build a undersea, high-speed fiber optic communications network in the Asia Pacific region.
The network, expected to be completed by September 30, 2001, will connect Japan, South Korea, China and Hong Kong, Taiwan, Philippines, Malaysia and Singapore.
Besides serving the Asia Pacific Region, the cable will connect with other major oceanic cable networks for the United States, Europe, Australia and other parts of Asia.
The supply contract for construction of the cable system, called APCN-2, will be signed on Wednesday between the funding partners and Japan's NEC Corp. (6701.T) in Singapore.
MCI WorldCom said it is the third-largest investor in the consortium. |
