Pakistan Telecommunication Company Limited (PTCL) will hold a groundbreaking ceremony for the Africa-1 Submarine Cable at its Sea View, Karachi landing site on February 22, 2025, marking a transformative step in enhancing Pakistan’s digital connectivity.
PTCL disclosed this information through a notice sent to the Pakistan Stock Exchange Limited (PSX) on Friday.
“The groundbreaking celebration for joining the high-capacity Africa-1 Submarine Cable is scheduled for February 22, 2025, making its landfall at Pakistan Telecommunication Company Limited (PTCL) landing site at Sea View, Karachi, marking a transformative step in enhancing Pakistan’s digital connectivity,” read the notice.
The company said that its board approved an investment of $59.5 million for the Africa-1 submarine cable project in November 2020. This initiative aims to provide connectivity between the UAE, Europe, and Africa, along with multiple landing stations.
The company began investing in the project annually as part of its CAPEX starting in 2021. Till 2025, approximately 75% of the total investment has been completed over four years, with the expectation that the full or maximum project cost will be reached within the year.
The project is expected to achieve its Ready for Service (RFS) in Q1 2026. Once the RFS is completed, the Africa-1 submarine cable will be fully operational, and the PTCL will begin generating revenue from the project, contributing positively to its top-line growth.
