Karachi, February 21, 2025 – Pakistan Telecommunication Company Limited (PTCL) has officially disclosed significant material information to traders at the Pakistan Stock Exchange (PSX), underscoring its commitment to technological advancement and infrastructure development.
In a formal communication with the PSX, PTCL stated that in November 2020, its Board of Directors approved a substantial investment of USD 59.5 million for the Africa-1 submarine cable project. This strategic initiative is aimed at establishing seamless connectivity between the UAE, Europe, and Africa, featuring multiple landing stations along the route. As a part of its long-term vision, PTCL commenced its investment in this high-capacity project as part of its capital expenditure (CAPEX) in 2021.
Over the past four years, PTCL has successfully completed approximately 75% of the total investment required for the project, with a full completion target set for 2025. The total project cost is expected to be reached within the year, reinforcing PTCL’s position as a key player in regional and international telecommunications. The Africa-1 submarine cable project is scheduled to achieve its Ready for Service (RFS) milestone in the first quarter of 2026. Upon reaching this stage, the state-of-the-art submarine cable will become fully operational, enabling PTCL to generate significant revenue from this initiative, thereby enhancing its overall financial performance.
In a major milestone for Pakistan’s digital infrastructure, the groundbreaking celebration for the Africa-1 submarine cable’s landing is set for February 22, 2025. The event will mark a historic moment as the cable makes landfall at PTCL’s designated landing site at Sea View, Karachi. This strategic step is expected to play a transformative role in boosting Pakistan’s digital connectivity, reinforcing PTCL’s commitment to modernizing the country’s communication networks and expanding its global reach.
By spearheading this international connectivity project, PTCL continues to strengthen its reputation as a telecommunications leader, ensuring high-speed and reliable data services for businesses and consumers. With the Africa-1 submarine cable integration, PTCL is poised to support Pakistan’s evolving digital economy and fortify its role in global data transmission.