Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Telecom, Vodafone, Telstra team up on new trans-Tasman cable

Telecom, Vodafone, Telstra team up on new trans-Tasman cable

Feb. 19 (BusinessDesk) - New Zealand's dominant mobile and landline phone companies Telecom and Vodafone New Zealand are teaming up with Australian rival Telstra to look building a new trans-Tasman submarine cable to lift the nation's internet links to the rest of the world.

The phone companies have signed a non-binding memorandum of understanding to co-invest in the build of an Auckland-to-Sydney link, at a cost of at least US$60 million, they said in a joint statement. The link, tentatively called the Tasman Global Access Cable, would incorporate three fibre pairs with a current capacity of 30 terabits a second.

"The business case for a new cable between New Zealand and Australia is compelling, providing greater capacity and global redundancy capability," Telecom chief executive Simon Moutter and Vodafone NZ head Russell Stanners said. "An additional cable connection with Australia will strengthen the business case for international data servers to be located in New Zealand."

The deal comes after Pacific Fibre's $400 million trans-Pacific link fell over after failing to attract enough investment, and as Hawaiki Cable emerged as the latest player with plans to link the Pacific Islands with New Zealand the US.

The TGA design is expected to be finalised in the coming months, with a likely completion date in mid to late 2014.

Last month, Southern Cross Cable, which counts Telecom as an owner, announced it would cut its capacity prices by a fifth. The cable runs in a figure-eight loop between New Zealand, Hawaii, Fiji and the US mainland, is nearing completion of its eight capacity upgrade, taking total lit capacity to 2 Terabits a second.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Starts Talks On Tougher Rules For Property Speculators

The Reserve Bank of New Zealand is stepping up preparations to restrict lending to residential property investors as it watches house prices, particularly in Auckland, continue to rise strongly. More>>

ALSO:

Research: ‘Ageing Well’ Science Challenge Launched

Science and Innovation Minister Steven Joyce today launched the Ageing Well National Science Challenge, confirming initial funding of $14.6 million. More>>

ALSO:

Scoop Business: Govt Resisting Pressure To Pump More Cash Into Solid Energy

Prime Minister John Key says it is “not the government’s preferred option” to make a fresh capital injection into the troubled state-owned coal miner, Solid Energy, but dodged journalists’ questions at his weekly press conference on whether that might prove necessary... More>>

ALSO:

Lagest Ever Privacy Breach Award: NZCU Baywide Accepts “Severe” Censure In Cake Case

NZCU Baywide says that once it was found to have committed a breach of a former staff member’s privacy, it had attempted to resolve the matter... the censure and remedies for its actions taken almost three years ago are “severe” but accepted, and will hopefully draw a line under the matter. More>>

ALSO:

Scoop Business: PayPal Stops Processing Mega Payments; NZX Listing Still On

PayPal has ceased processing payments for Mega, the file storage and encryption firm looking to join the New Zealand stock market via a reverse listing of TRS Investments, amid claims it is not a legitimate cloud storage service. More>>

ALSO:

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news