Islamabad February 21 2025: Pakistan Telecommunication Company Limited (PTCL) US$ 59.5 million for the Africa-1 submarine cable project to start revenue generation by early next year, according to company filing to the Pakistan Stock Exchange.
In November 2020, the Board of Directors approved an investment of US$ 59.5 million for the Africa-
1 submarine cable project. This initiative aims to provide connectivity between the UAE, Europe, and Africa, along with multiple landing stations. The Company began investing in the project annually as part of its CAPEX starting in 2021.
Till 2025, approximately 75% of the total investment have been completed over four years, with the expectation that the full or maximum project cost will be reached within the year. The project is expected to achieve its Ready for Service (RFS) in Q1 2026.
Once the RFS is completed, the Africa-1 submarine cable will be fully operational, and the Company will begin generating revenue from the project, contributing positively to its top-line growth.
The groundbreaking celebration for joining the high capacity, Africa- 1 Submarine Cable is scheduled for February 22, 2025, making its landfall at Pakistan Telecommunication Company Limited (PTCL)
landing site at Sea View, Karachi marking a transformative step in enhancing Pakistan’s digital
connectivity.
