The government of Bangladesh will spend USD 72.5 million on SEA-ME-WE 5, on which construction commenced this month.
“As Myanmar has become a member of the consortium we are paying $10 million less for the branch cable,” Hossain said.
So far 12 countries have confirmed their membership with the consortium, while three other entities may join later, which will reduce the cost of Bangladesh for the core cable, he said.
The final contract of the consortium will be signed next month, he said.
For internet connectivity, the country depends largely on the lone undersea cable SEA-ME-WE-4, which was installed eight years ago. Separately, six more private international terrestrial cables are connected to global cables through Indian links.
The second cable will serve as a backup for the previous undersea cable as well. The single backbone fibre optic network will link Southeast Asia, Middle East, East Africa and Europe.