Three private submarine cables have backtracked from their initial decisions to supply bandwidth separately through undersea cables and have now agreed to collaborate on one connection amid the US dollar shortage.Â
When one talks about Summit Group, it should come as no surprise that the conglomerate has solidified its position in Bangladesh’s power industry while its chairman, Muhammed Aziz Khan, has been listed by Forbes as one of the richest men in Singapore.
The government has issued three submarine cable licenses to Summit Communications, CdNet Communications and Metacore Subcom Ltd. Last bastion of state-owned monopoly in telecoms will fall once the private cables emerge from the Bay of Bengal.
Three private firms will invest around Tk 2,000 crore collectively to connect Bangladesh with at least three more submarine communication cables, in a development that would ensure smooth supply of bandwidth amid surging internet use.