Hawaiki Cable and SIL Long Term Holdings have signed a binding agreement to become equity partners in developing and implementing the $US300 million Hawaiki submarine cable system.
The trans-Pacific cable will link Australia, New Zealand a number of South Pacific Islands to the United States by the tail end of 2017. The cable is based on coherent fibre technology with a capacity of more than 25Tbps.
SIL is the family investment vehicle of Sir Eion Edgar.
“This cable will not only provide faster and better Internet, but will also significantly enhance the security of our data connection to the globe, “ Sir Eion Edgar said. “As a family we have endeavoured to support and invest in projects that not only make sound business sense, but which also make a positive contribution to New Zealand society, in particular the areas of health and education."
Hawaiki Cable CEO, Remi Galasso, said it was an important strategic asset for New Zealand.
“Our capacity contracts with New Zealand customers, including REANNZ, symbolises the first cornerstone of the project and now with the Edgar family on board, we demonstrate our commitment and ability to provide New Zealand with state-of-the-art infrastructure.”