Greece, Israel ink agreement on building undersea internet cable

Greece's Grid Telecom and Israel's Tamares Telecom have signed an agreement to lay an underwater Internet cable, Andromeda, between Israel, Cyprus, and Greece.

The companies will invest $70 million and the two companies will equally contribute to the project, NEWSru.co.il reported. According to plans, the cable will start operating as early as 2024.

After that, there are plans to extend the cable from the Israeli side to Saudi Arabia, and from the Greek side to other European internet hubs.