Mayo and New York in $300m fibre optic cable link
Published 21/04/2015 | 07:20
A $300m fibre optics cable between New York and Mayo is set to go ahead after the promoters secured a multimillion euro loan and planning permission.
The move will be mean the first direct link between the western seaboard and the US and will provide infrastructure for data centres and cloud computing businesses in the region.
Company documents recently filed by Dublin-based Aqua Comms show that it has agreed a $125m loan with international banking firm Nomura International.
The initial phase of the project, which is set to land at Kilala, is expected to cost $300m with construction slated to begin in the summer.
Mayo County Council today warmly welcomed the announcement confirming that the America Europe Connect Fibre Optic cable is to be constructed between Shirley, New York and Killala, County Mayo with work commencing immediately.
An Taoiseach, Enda Kenny, in whose constituency the cable will make landfall said ….”This is the first new transatlantic cable from the United States to Europe to be laid in over a decade and the first fibre to ever make direct landfall on the west coast of Ireland. It is a massive vote of confidence in the Irish economy and offers enormous opportunities for the West and for the Island as a whole”.
Cathaoirleach of Mayo County Council, Councillor Damien Ryan welcomed the announcement saying that it would significantly increase the attractiveness of Mayo as a place in which to live, work and invest.
Mayo Chief Executive Peter Hynes said ..... “This project is the culmination of four years of intense effort by Mayo County Council, Government Departments and other Agencies. It is testament to the priority which the Council has accorded to enterprise and investment.”