Globe: Subsea cable project set for April completion
GLOBE Telecom, Inc. said its $150-million domestic submarine cable network project is on track for completion in April this year.
The project, which is being undertaken by Globe, Eastern Communications Philippines, Inc., and InfiniVAN, Inc., is seen to provide equitable and reliable connectivity across the country, including unserved and underserved areas.
The project has a total cable distance of 2,500 kilometers, and it will soon kick off landing cables in nine remaining segments that cover 13 sites, Globe said in an e-mailed statement on Thursday.
The sites include Calatrava, Romblon; Pasacao, Camarines Sur; Bulan, Sorsogon; Calbayog City, Samar; Palanas, Masbate; Mactan, Cebu; Maasin City, Leyte; Claver, Surigao del Norte; Kinoguitan, Misamis Oriental; Camiguin; Dipolog, Zamboanga del Norte; Liloy, Zamboanga del Norte; and Zamboanga City, Zamboanga del Sur.
Globe said the project kicked off in Subic Bay, Zambales in July last year, and it recently completed 15 segments across the country.
“We are committed to supporting the government’s initiatives towards innovation, e-governance, and greater digital adoption among Filipinos through our investments in [the submarine cable network project] and other network infrastructure,” said Globe President and Chief Executive Officer Ernest L. Cu.
According to Globe, the submarine cable network project is part of its network expansion efforts.
It aligns with the company’s “commitment to improving infrastructure and fostering innovation towards development under the United Nations Sustainable Development Goals,” Globe said.
“As the project nears completion, Globe is shifting its focus towards capital efficiency and optimization, with plans to reduce its capital expenditures budget to $1.3 billion in 2023 and $1 billion in 2024 from approximately $1.9 billion in 2022,” the company added.
The telco also said that its move aims to optimize spending in the next few years by maximizing the utilization of fiber assets and taking advantage of arrangements with tower companies to boost tower construction. — Arjay L. Balinbin
