Grid Telecom, a division and telecommunications services provider of IPTO, and Dawiyat Integrated, a telecommunications subsidiary of Saudi Electricity Company (SEC), have signed a Memorandum of Understanding for the construction of a new fiber optic cable system that will connect Greece to Saudi Arabia.

The deal, as noted in the announcement, is fully in line with the two companies' strategy to expand their international networks. It also lays the groundwork for synergies in new areas of business development, such as the creation of hyperscale-ready datacenters for hyperscale providers, which will enhance data transfer between different continents. The new digital corridor linking Saudi Arabia and Greece via Crete will extend westward to major destinations in Europe and eastward across the Arabian Peninsula.

Manos Manousakis, President and CEO of IPTO, said: "IPTOE is expanding its strategic partnership with Saudi Electricity Company in the field of telecommunications. The agreement between Grid Telecom and Dawiyat Integrated will add a new ultra-high-speed telecom 'bridge' for data transmission in the Eastern Mediterranean, contributing to the digital convergence of the wider region. Combined with the joint plans of IPTO and National Grid, also a subsidiary of Saudi Electricity Company, to build a new electricity interconnection between the two countries, we are creating the conditions for both Greece and Saudi Arabia to become critical energy and digital hubs at the crossroads of Europe, Africa, and Asia."

Dawiyat Integrated CEO Wael Ali Al-Ghamdi said: "With the growing demand for connectivity regionally and globally, Dawiyat Integrated is constantly working to strengthen and expand its international network. Our partnership with Grid Telecom, in a joint venture to build a new cable system, will increase the resilience and reach of our network. Taking advantage of Crete's strategic location, the new cable system will link Saudi Arabia with Greece and the Balkans, providing a new entry point to Europe."

Grid Telecom President Kostas Agathakis said: "We are constantly looking for ways to strategically expand our services to partners and customers. In this context, our partnership with Dawiyat Integrated for the construction of a new cable system will support the implementation of an important telecommunications corridor between Greece and Saudi Arabia and will strengthen the strategic role of Crete as a regional hub of high geopolitical value in the Eastern Mediterranean and the Balkans."