Converge investing PHP 5 billion in new subsea cable system

Converge ICT, a fiber internet provider, inked a deal with Singapore's Keppel Midgard Holdings (KMH) Pte. Ltd. for the Philippine telco's participation in the Bifrost Cable System project.

Converge ICT takes part in building a new subsea cable system

Converge investing in Bifrost Cable System

Both parties will develop a branch on the Bifrost Cable System that will land in Davao. The local telco player will also be appointed as the landing party for the Davao branch segment.

Under the agreement, Converge told the Philippine Stock Exchange that it will spend more than USD 100 million or around PHP 5 billion for the project.

The additional Davao branch for the Bifrost Cable System will significantly increase internet speeds and network diversity for businesses and consumers in the Philippines for a better digital experience. Our investment into this cable system also gives us two direct international links, one going to Singapore and the other one going to North America with a design capacity of up to 15Tbps (terabits per second) in each direction, said Dennis Anthony Uy, CEO of Converge.

Expected to be completed in 2024 and spanning over 15,000 kilometers, the Bifrost Cable System is the world’s first subsea cable system that directly connects Singapore to the west coast of North America via Indonesia through the Java Sea and Celebes Sea.

It will connect Singapore, Indonesia, the Philippines, Guam, and the west coast of North America.

Source: PSE