TMTFinance.com - The networking hub for TMT Finances & Law in emerging markets

Two submarine cable projects – Polarnet Project and Arctic Fibre - are competing to connect Asia to the Americas and Europe via the Arctic Ocean, thanks to the melting ice cap. The Russian-backed Polarnet Project is more advanced, and launched a tender for supply of the cable in January. Last October the Russian Governmental Commission for Federal Communications and Information Technology approved the project, known as the Russian Optical Trans Arctic Submarine Cable System (ROTACS). Construction of the 9,134 mile cable could start in the second half of 2012.
By contrast the Arctic Fibre project is at an earlier stage. The scheme is costed at about C$640m. Canadian parties are expected to fund about one third due to significant benefits for its northern settlements, with Asian, US and European telecom companies funding the balance. Construction of this cable is not expected to start until 2013 at the earliest. It recently appointed AP Telecom as international pre-sales manager.
Possibly further behind is a third project called Artic Cable. This is backed by Khanjee Holding, an infrastructure investment firm, and the Kodiak, Alaska-based Kenai Cable Co. This scheme focuses more on benefits to Alaska.