Quest Telecom, the Hong Kong based subsidiary of Australian diversified investment outfit Quest Investments, has signed an MoU with Huawei Marine Networks to develop and launch integrated submarine optic cable systems throughout the Asia Pacific.
The company has not dabbled in the costly deployment of submarine cables before, but it has been in discussions with Huawei over the project for some time and has been in a due diligence phase since June.
Quest Investments specialises in stockbroking, investment banking, telecommunication and seafood investments through the Asia-Pacific region and is part of the the ASX listed Murchison Holdings Limited Group.
Quest has already secured a carrier licence from the Office of the Telecommunications Authority of Hong Kong fort provide external telecom services in Hong Kong SAR.
Both parties have been conducting a feasibility study into the network deployment under the MOU but have yet to detail where the networks would extend to or where the landing stations will be in the Asia Pacific region.
The MoU is very vague on the scope of the project with much detail to be determined.
According to the MoU if the project goes ahead Huawei Marine will design, install and commission one or more integrated submarine fibre optic cable systems between certain major cities in the Asia-Pacific region proposed by HMN.
It is understood that Quest will be raising the capital for the project with HMN introducing potential financiers to assist in the provision of finance.
Huawei has already been active in the Asia-Pac cable market, winning the construction contract for the ASSC-1 cable that will link Perth, Jakarta and Singapore. ®