Converge ICT Solutions Inc. on Wednesday said it is investing $200 million in an existing international submarine cable connecting the US.
“We’ve signed already, but under FCC (Federal Communications Commission) approval. We are looking at an additional $200 million investment,” Dennis Anthony Uy, chairman and chief executive of Converge, said.
Uy said the existing international submarine cable, which he did not identify, is three times bigger than its Bifrost Cable System.
Bifrost is a 15,000-kilometer (km) undersea cable project from Singapore to the North American West Coast, including a branch to the Philippines.
Converge is investing $100 million in Bifrost, which is expected to be completed by 2024.
The company also said it completed a critical infrastructure in its domestic fiber backbone in Mindanao, improving fiber internet service availability for subscribers in southern Philippines.