HyalRoute Fiber Optic Cable Network

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The project involves the construction of a 4,500 km fiber optic cable network in Myanmar by Myanmar Fiber Optic Communication Network Co., Ltd. The Project is the first part of the second phase of a broader plan to lay down 32,000km of cable across the country during the 2012-2023 period. The project is in line with the Government of Myanmar’s Telecom Master Plan (2016-2020), which promotes fiber optic cable network development and foreign direct investment in the telecom sector. The rollout will link 66 cities and towns in 10 states and regions in central and southern Myanmar and significantly improve communications in rural areas. The total investment is estimated at$118.6 million, including $18.6 million in equity from HyalRoute Communication Group and $100 million in debt financing from Bank of China. The Multilateral Investment Guarantee Agency issued a guarantee of $105.74m covering the investment by Bank of China. The guarantee provides coverage for up to five years against such risks as currency inconvertibility and transfer restrictions, expropriation, and war and civil disturbance. https://www.miga.org/Lists/Press%20Releases/CustomDisp.aspx?ID=528