TERRAMARK PLANS TO SET UP AFRICAN NETWORK ACCESS POINT IN TENERIFE
The government of Tenerife, one of the Canary Islands, off the northwestern coast of Africa, and U.S. information technolog company Terremark Worldwide, Inc. (Terremark) plan to set a Network Access Point (NAP) for Africa on the island.
Under an agreement between the head of Tenerife government, Ricardo Melchior, and Manuel Medina, founder and chairman of Terremark, the regional government and the company will carry out research on the viability of the project, which can provide communications channel between governments, companies and universities with counterparts in Africa.
Some 300 Terremark customers have expressed their interest in the project, Medina said.
Such a NAP will cost between USD15 million (12.2 million euro) and USD50 million (40.6 million euro), he said. The Tenerife government may provide up to 50 pct of the investment needed, but most probably it will contribute 20 to 25 pct of the investments required.