CAT to up undersea cable investment
CAT Telecom's board this week approved an increase in the state enterprise's investment in the Asia-Pacific submarine cable network project to US$51 million (Bt1.6 billion) after already spending $10 million on it.
CAT chief executive officer Kitisak Sriprasert said yesterday that the new investment was projected to break even in six years and provide a return of 16.5 per cent. CAT estimates its revenue from the Asia Pacific Gateway project will rise steadily from Bt112 million in 2015 to Bt560 million in 2016, Bt723 million in 2017, Bt883 million in 2018 and Bt946 million in 2019.
The investment plan will be submitted for approval to the Information and Communications Technology Ministry and then the Cabinet.
TOT had said it would invest in the project but CAT stepped in to replace TOT as it appeared not convenient for TOT to do so and the project would support CAT’s plan to enhance its Internet gateway service, Kitisak said.
