Partner for the laying of a new cable linking the East and Europe

Partner Communications (TASE: PTNR; Nasdaq: PTNR) will build fiber optic infrastructure in Israel that will facilitate a connection between the East and Europe, providing an alternative to the Suez Canal, through which fiber optic cables pass. A first agreement worth 40 million shekels was signed yesterday with , a participation of the Aluma Infrastructure Fund (TASE: ALUMA).

In total, Partner will deploy 300 kilometers of fiber optic cable between Haifa on the Mediterranean and Eilat on the Red Sea. The project will last approximately two years, and will provide an additional East-West connection to Google and Telecom Italia cable.

As part of the project, Partner will lay a fiber optic cable between Tirat Hacarmel, near Haifa, and Jordan, and another linking Haifa to Beersheva and Eilat.

Aluma is the primary customer of the new infrastructure and the provider of its initial financing.

Currently, most international cables connecting Europe to the Far East pass through the Suez Canal. Egypt represents a vulnerable point of the link, due to its complicated political situation, dependence on a single country, high prices and the cutting of cables by ships in the narrow and shallow channel.

The partner will provide two access points to Israel via Jordan for cables reaching it from the Far East: Eilat and the Allenby Bridge (known in Jordan as the King Hussein Bridge) over the Jordan River. Both segments will connect directly to Haifa, or any other access point to Europe.

Partner already has its own infrastructure between Haifa and Beersheva and between Haifa and Ma’aleh Adumim near Jerusalem. Under the current project, the company will build new infrastructure from Beersheva to Eilat and from Ma’aleh Adumim to the Allenby Bridge. Each segment will be the backup of the other.

Partner CEO Avi Zvi said, “Partner is embarking on an independent venture that will be a significant growth engine for the company’s business and transform it into a global player in communications infrastructure.

Tamares CEO Tom Koren said, “The project will help Tamares deepen its ties with Partner and strengthen its existing ability to connect East and West.

Published by Globes, Israel business news – en.globes.co.il – on January 26, 2022.

© Copyright Globes Publisher Itonut (1983) Ltd., 2022.

Mary I. Bruner