strengthens the commercial activities between Cyprus and Lebanon
Cyta announces the signing of an agreement with the Lebanese Ministry of Telecommunications for the construction and maintenance of a new subsea telecommunications connection between Cyprus and Lebanon, with the commercial name CADMOS-2. The agreement was signed on Monday, 12th December 2022 in Beirut. Cyta was represented by the Chairman of the Board Mr. Michalis O. Ioannides and the CEO Mr. Andreas Neocleous.
CADMOS-2 will complement and in the future replace a cable system interconnecting the two countries since 1995, and is expected to be operational in 2024, to meet the needs of international connectivity. The agreement enhances Cyta’ s position as a telecommunications hub and its role as a services centre in the wider area of the Eastern Mediterranean. At the same time, it supports the business activities between Cyprus and Lebanon and strengthens the wider cooperation between the two countries, at a critical period characterized by uncertainty.
The Minister of Finance of the Republic of Cyprus, Mr. Constantinos Petrides, commenting on the agreement said that “Cyprus and Lebanon, two neighboring countries with a long history, have always maintained a friendly relationship. The signing of the agreement to upgrade the infrastructure that interconnects them, is a strong example of their continuous commitment to enhance this relationship”.
The Minister of Telecommunications of the Lebanese Republic, Mr. Johnny Corm, noted that “We present our sincere thanks to CYTA and to the Cypriot government for this vital project, hoping to continue our cooperation for the benefit of both countries”.
Cyta Chairman, Mr. Michalis O. Ioannides, mentioned that “With CADMOS-2, Cyta upgrades the connectivity between Cyprus and Lebanon, at the same time boosting the friendly relations between them. The project creates the conditions for new business opportunities that will benefit the economies of both countries”.
Cyta CEO Mr. Andreas Neocleous noted that “The new subsea cable system underlines our commitment to providing top-quality, reliable services, not only to our local, but also to our overseas customers and promotes our country’ s role as a centre of technology”.
Cyta press releases are available online at www.cyta.com.cy/pr/pressreleases