R-ADAG to invest $ 60 million in Saudi Arabia

Anil Ambani's Reliance Communications will invest $ 60 million in Saudi Arabia to connect the Kingdom and other Gulf states with 53 countries around the globe on its fibre optic network and provide value-added services to its users.

The investment to set up submarine fibre optic cable landing stations in Alkhobar and Jeddah for facilitating access to international bandwidth was made through FLAG Telecom, part of the Anil Dhirubhai Ambani Group, under its Falcon project.

The deal was unveiled in the presence of Anil Ambani, chairman of R-ADAG, Punit Garg, president of FLAG Telecom,  and Mohammed Hasan Omar, president & CEO of Integrated Telecom (ITC) at its headquarters in Jeddah.

The Falcon project will connect the Gulf countries, including Saudi Arabia to India from the east, Egypt from the west as also with the rest of the world, Garg said.

The entire project would be completed before October this year. The two landing stations would be constructed in Alkhobar, already operational and in Jeddah, which will be completed next month.