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Paramount Cables sees opportunity in undersea cable business

Monday, 16 Sep 2019

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Domestic optical fibre firm Paramount Cables expects undersea cable business to generate up to Rs 3,000 crore revenue opportunity in the Indian market in next five years.

The company also sees that high speed data and advent of 5G will exponentially push demand for undersea cables, connecting telecom networks of various nations. Paramount Cables has become the first Indian company to repair and lay submarine optical fibre, and is looking to build capacity in the country to capitalise upon various opportunities that exist in the segment.

The company repaired and laid down submarine cable connection between India and Sri Lanka, Bharat Lanka Cable System, in August 2019 in the Bay of Bengal, on the seabed near Tuticorin.

Paramount Cables was roped in by Japanese firm NEC, which bagged the contract from Bharat Sanchar Nigam (BSNL), in November 2018 to repair the cable system and cement it in rock trenches on the seabed for 5.1 km near Tuticorin in Tamil Nadu. The company repaired the cable system in February 2019 and cemented it on the seabed in August 2019.