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VSNL gets nod for joining Asian cable

An official statement said the CCEA has sanctioned the project at a cost of Rs 1.84 billion, including the foreign exchange component of Rs 1.68 billion. It also authorised the VSNL to carry out legal and other formalities for participation in the SEA-ME-WE 3 cable system.

The VSNL cable project is perceived as a highly remunerative one, providing an internal rate of return of 36.9 per cent and pay-back period of six years. VSNL will acquire transmission capacity to meet the projected traffic requirement from 1998-99 onward.

The SEA-ME-WE 3 cable system is an optical fibre submarine cable system connecting Southeast Asia, the Indian sub-continent, West Asia, North Africa and Western Europe. The cable will be crossing over land in Egypt. It is proposed to have 39 landing points in 33 countries. In Asia and Europe, five more are to be included, it is learnt.

- Compiled from the Indian media

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