New data cable would make Finland one of the world's most attractive ICT regions.
Finland intends to build a fast, high-quality and cyber-secure connection to European and global networks from Finland to Germany via an underwater fibre optic cable. Governia, a state-owned special assignment company, has acquired Corenet Oy which will act as the data cable management company. Coronet owns a 7,100-kilometre long network of fibre optic cables in Finland.
According to Tietoviikko magazine, the project is estimated to cost EUR 100 million. One third of the funding could come from the Finnish state, one third from institutional investors and one third from companies in the ICT sector. The new cable will make high-speed data connections available throughout Finland, improving the country’s competitiveness in ICT technologies and digital services.
Global data hub opportunity
According to the Finnish government, both national and international operators and other stakeholders have expressed their interest in the project. A number of significant international ICT and Big Data businesses have also signalled their willingness to invest after the opening of the new connection.
So far, all data transmission to Finland has taken place via Denmark and Sweden. “With the new cable, Finland has the opportunity of becoming a unique global data hub. This will enhance Finland’s position in global competition and create new growth opportunities for our ICT technology,” says Pekka Haavisto, minister responsible for state ownership steering.
“One day, a cable running under the North-East Passage could be linked to the Finnish and the Baltic Sea cable. This would make Finland a decisive link in the network of global data transmission.”
Sources: Government of Finland, Tietoviikko