More Bandwidth on the Horizon
Pipe Networks’ first international broadband cable PPC-1, landed in Sydney last week. The cable stretches 4787km running from Collaroy on Sydney’s Northern beaches to Guam before branching off into other major countries.
The $200 million project which has been in the works for several years has overcome several hurdles along the way. The backing for the cable was originally projected at about $200 million in April 2007 and awarded to Tyco later that year. The project was expected to be covered by a credit facility provided by Westpac and ANZ banking group, but in December last year, just as the project was due to begin, ANZ and Westpac pulled out leaving a hole in Pipe’s plans. The project was rescued by an increased financial commitment from Pipe Networks and a group of ISP’s including Internode, iiNet and Primus who agreed to enter long-term capacity leases on the new cable.
