Reach celebrates second cable landing in HK
19:27 AEDT Fri 9 Mar 2001
The $US1 billion ($A1.96 billion) Asia Pacific region optical fibre submarine cable network was progressing well, today landing in Hong Kong for the second time, its largest shareholder said today.
Reach - one of the joint ventures under Telstra Corp Ltd's alliance with Pacific Century Cyberworks Ltd (PCCW) - is the largest shareholder in the 19,000 kilometre-long Asia Pacific Cable Network 2 (APCN 2).
The APCN 2, of which Reach owns a six per cent stake, is due to become operational in September.
Reach board director Keith Harrison said the company was today celebrating the second landing of the self-healing, high capacity APCN 2 at South Lantau Cable Station on Lantau Island in Hong Kong, following the first landing on February 22.
The network will connect top Asian markets, including China, Hong Kong, Japan, Korea, Malaysia, The Philippines, Singapore and Taiwan.
It would also provide seamless interconnection with other major trans-oceanic cable networks linking the USA, Europe, Australia and other parts of Asia, he said.
Reach director Dick Simpson said the seamless regional and global connectivity enabled wholesale customers to grow their businesses.
"The state-of-the-art APCN 2 underpins that strategy," Mr Simpson said.
"Combined with the approximately 50 other cables in which Reach has an interest, it will help us achieve our regional ambitions in the short to medium term."
Telstra shares closed today 11 cents softer at $6.59.
©AAP 2001
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