AzerTelecom and Kazakhtelecom have signed a Shareholders’ Agreement to establish a joint venture for the construction and operation of the Trans-Caspian Fiber-Optic Communication Line (FOCL) along the Azerbaijan-Kazakhstan route on the seabed of the Caspian Sea. This agreement marks a significant milestone in the project, as it represents the collaborative efforts and actions of the parties towards its finalization.
Vasyl Latsanych, the Head of Telecom at NEQSOL Holding, which includes AzerTelecom, signed the agreement on behalf of AzerTelecom, while Kuanyshbek Yessekeyev, Chairman of the Management Board of Kazakhtelecom, signed the document on behalf of Kazakhtelecom.
The agreement outlines the purpose and objectives of the joint venture, with a particular focus on its governance, as well as the construction and operation of the Trans-Caspian Fiber-Optic Communication Line along the Azerbaijan-Kazakhstan route.
As the Digital Silk Way project’s Asian segment, the Trans-Caspian Fiber-Optic Communication Line plays a crucial role in developing the digital infrastructure for connectivity services and establishing a digital telecommunication corridor between Europe and Asia.
Vasyl Latsanych, Head of Telecom at NEQSOL Holding, commented on the agreement, emphasizing that the Trans-Caspian Fiber-Optic Communication Line will enable high-capacity data transmission by connecting regions and transcending geographical boundaries.
“Collaboration between AzerTelecom and Kazakhtelecom will contribute to establish access to new markets and improve the internet usability and data transmission capacity of the countries. Moreover, what makes the project unique is its distinction as the first undersea cable route to be built along the seabed of the Caspian Sea”, he added.
According to Sergey Nazarenko, Chief Operations Officer of AzerTelecom, the establishment of this joint venture marks the beginning of an exciting journey that will not only shape the communications infrastructure landscape of our region but also open doors to great opportunities for the digital development of our countries and businesses.
Kuanyshbek Yessekeyev, Chairman of the Management Board of Kazakhtelecom, highlighted that Kazakhtelecom and AzerTelecom, as leaders in their respective fields, highly appreciate the transformative potential of this project and have joined forces to make it a reality. “Together, we will join our expertise, resources, and vision to ensure the successful construction and operation of the Trans-Caspian Fiber-Optic Communication Line”, he concluded.
AzerTelecom is a leading wholesale telecommunications operator in Azerbaijan and is a part of NEQSOL Holding, an international group of companies operating in nine countries across the energy, telecommunications, hi-tech, and construction industries.
Kazakhtelecom is the largest telecommunications company in Kazakhstan and holds the status of a national telecommunications operator.