The Singapore-based Campana Group is arranging a total of more than $80 million in equity and debt to deploy the Singapore-Burma (SIGMAR) submarine cable system.
It is reported that the fund includes a $40 million Series B financing, co-financed by Tokyo Mitsui & Co. and Myanmar businessman U Thein Htwe.
The Singapore-Myanmar submarine cable system has a total length of 2,200 kilometers, including four fiber optic pairs, designed to connect the Thanlyin (Burma) International Gateway (IGW) facility 16 kilometers southeast of Yangon City to Singapore's Tuas.
Campana will provide a variety of fiber optic backhaul for Yangon and Singapore through OpenPoP, while providing a branch path for future landings in Thailand and interconnection with submarine cable systems from the West.
In addition to the SIGMAR submarine cable, the proceeds will also be used to increase investment in the metro core and last mile connections.