Grid Telecom, a wholly-owned subsidiary of the Independent Power Transmission Operator (IPTO) of Greece has signed a Memorandum of Understanding (MoU) with Saudi Electricity-owned Dawiyat Integrated to build a subsea cable system connecting Greece to Saudi Arabia, and other major destinations across the Arabian peninsula and Europe.
“Our partnership with Grid Telecom in a consortium to build a new cable system will increase our network’s resiliency and reach. Leveraging on the strategic position of Crete, it will create a new cable system, interconnecting the Kingdom of Saudi Arabia with Greece and the Balkans, providing a new entry point to Europe, “ said Wael Ali Al-Ghamdi, CEO of Dawiyat Integrated.
Kostas Agathakis, chairman of Grid Telecom, said: “In this framework, our collaboration with Dawiyat Integrated in building a new cable system, will support the implementation of a new corridor between Greece and Saudi Arabia. Moreover, it will enhance the strategic role of Crete as a regional open-access interconnection node in the Eastern Mediterranean and the Balkans”. 
