Angola Cables to Co-Share With Telebras due to Decline in Angolan Economy

With decline in Angolan economy with decreasing rates of crude oil, the SACS and Monet projects require co-funding from Japanese Institutes.

July 14, 2017

Angola Cables has offered to co-share with Telebras, a submarine datacenter and cable landing station being set up in the Brazilian city of Fortaleza. Angola Cables along with Google, telco Antel and Algar Telecom is working on South Atlantic Cable System (SACS). It will stretch 10,000 km from Florida to Fortaleza and Santos (São Paulo), and Maldonado, Uruguay, and it is expected to be operational by the first half of 2017.

With financing from Angolan and Japanese banks, Angola Cables is carrying out the project on its own after the Brazilian firm backed out due to other commitments. Also, the global decline of crude oil prices has further delayed the completion of the SACS and Monet projects as it affected the oil-dependent Angolan economy. So, the project required co-financing from Japanese institutions.