Google Is Weighing This Underwater Investment
Google Inc. (NASDAQ:GOOG) is among the group of potential investors who will decide whether or not to move forward with a $1.5 billion undersea cable that would link BRIC nations both to each other and to the United States.
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According to reports from Reuters, the investors will make a decision within the next six months, and the project is expected to come online by the close of 2014. The project would involve a 34,000 kilometer cable that would connect to Brazil, Russia, India, and China. The cable, which would be the first of its kind, would also connect with pre-existing underwater cables and provide access to 21 African countries.
African countries are currently connected to countries in Europe, Asia and and North America via nine underwater cables, with five more connecting cables planned for the next two years. According to South Africa’s Prime Minister Dina Pule, the new connections will help to reduce the cost of communication and provide better internet access.
Internet penetration of the African continent has climbed from 2.4 percent in 2006 to 12.8 percent in 2010, but four-fifths of the continent’s population still has no access to the internet.
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