on Wednesday, April 21, Singapore's Keppel Telecommunications & Transportation’s said it signed a binding term sheet with Converge ICT Solutions, granting Converge usage rights for one fiber pair on the main trunk of Bifrost Cable System.
Keppel Midgard Holdings – a wholly-owned subsidiary of Keppel T&T – and Converge will also jointly develop a branch on the Bifrost Cable System that will land in Davao. Converge will be granted an indefeasible right of use on the entire Davao branch.The Bifrost Cable System is expected to be completed in 2024.
Dennis Uy, CEO of Converge, said of the endeavor, “This is an important milestone not just for Converge but also for the Philippines as we expect to experience faster internet speeds and greater resiliency within our fast-growing fiber network with the completion of this project." "Our investment into one full fiber pair, connecting us to Singapore and the west coast of North America, will allow us to independently activate at will up to 15Tbps of capacity to either country using the latest technology. Furthermore, our ongoing construction of our National backbone spanning the whole country will allow Converge to distribute this capacity from Davao to any point in the Philippines," he added.
Keppel T&T CEO Thomas Pang meanwhile said,"Through this partnership, we will be able to accelerate the growth of our connectivity platform, which is in line with Keppel’s Vision 2030, as well as explore synergies with not only Keppel’s data centers, but also Converge’s data center business.”
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