Keppel Midgard Holdings Pte. Ltd. is a company based in Singapore. Ltd. (KMH) and Converge ICT Solutions Inc., a renowned Philippine internet service provider, performed an online signing ceremony to finalize Converge’s involvement in the Bifrost Cable System project.
Singapore will be directly connected to the west coast of North America via the Bifrost Cable System.
Keppel Telecommunications & Transportation has a wholly-owned subsidiary called KMH (Keppel T&T).
The agreements, signed by Keppel T&T Chief Executive Officer Thomas Pang and Converge CEO Dennis Anthony Uy, offer to Converge an Indefeasible Right of Use (IRU) for one fiber pair Bifrost Cable System’s main trunk.
Furthermore, KMH and Converge will collaborate to build a branch of the Bifrost Cable System that will land in Davao, Philippines, with Converge receiving an IRU for the entire Davao branch. Converge will also be in charge of the Davao branch segment’s landing party.
For the entire project, Converge will invest about US$100 million (about P5 billion).
“We are pleased to strengthen our relationship with Converge through our collaboration on this significant transnational infrastructure project,” said Keppel T&T CEO Pang.
The Bifrost Cable System will improve ASEAN interconnectivity and connectivity between Southeast Asia and North America’s west coast, providing significant benefits to the region’s governments, businesses, and consumers,” he added.
“The additional Davao branch for the Bifrost Cable System will significantly increase internet speeds and network diversity for businesses and consumers in the Philippines for a better digital experience,” stated Converge CEO Uy.
“Our investment into this cable system also gives us two direct international links, one going to Singapore and the other one going to North America with a design capacity of up to 15Tbps in each direction,” Uy added.
The Bifrost Cable System, which will connect Singapore, Indonesia, the Philippines, Guam, and the west coast of North America and will be completed in 2024, is the world’s first underwater cable system that will connect Singapore, Indonesia, the Philippines, Guam, and the west coast of North America via Indonesia across the Java Sea and the Celebes Sea.
By providing competitive pricing and capacity resilience, the Bifrost Cable System would improve the connection of the region’s governments and businesses, including cloud operators, telecom operators, network providers, over-the-top (OTT) providers, data centers, governments, corporations, and consumers.
The construction of the Davao branch is contingent on obtaining the necessary regulatory permits and licenses.
When substantial developments occur during the transaction, Keppel T&T will make the relevant announcements.