Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

SEYCHELLES SUBMARINE CABLE PROJECT

Signature(s)

Amount (.*)
€ 11,915,984
Countries
Sector(s)
Seychelles : € 8,000,000
Telecom : € 11,915,984
Signature date(s)
4/03/2011 : € 3,915,984
5/03/2011 : € 8,000,000
(*) Including a € 3,915,984 Investment Grants provided by the EU-AFRICA INFRASTRUCTURE TRUST FUND
Link to source

Summary sheet

Release date
20 April 2011
Status
Reference
Signed | 05/03/2011
20080549
Project name
Promoter - financial intermediary
Seychelles Submarine Cable Project

Seychelles Cable System Company

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to USD equivalent of EUR 8 million
USD 35 million
Location
Sector(s)
Description
Objectives

The project entails installation and operation of a submarine fibre optic cable connecting the Seychelles internationally.

The deployment of this submarine fibre-optic cable would result in the development of international telecom transmission capacity to Seychelles. The cable would drastically increase the available capacity to the country, further enabling provisioning of bundled and innovative services such as e-healthcare and e-learning solutions – ones that are critical for distant locations such as Seychelles. The resulting improvements carry also other benefits such as creating favourable business environment. Accordingly, the project would result in a wide range of socioeconomic benefits to the country.

Environmental aspects
Procurement

Telecommunication and specifically submarine cable projects are not specifically listed in EU Directive 97/11/EC as requiring Environmental Impact Assessment (EIA). The conclusion of an ESIAS prepared for the promoter is that with the application of standard mitigation measures and industry best practices in the project design and implementation plans the Project will have a high level of environmental and social acceptability.

The comparison among the various technical options open to the project and the procurement procedures followed by the promoter for the award of the main contract will be assessed during the appraisal. The EIB will insure that procurement decisions taken are in the best interest of the project and in respect of legal conditions.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

News & Stories

Photogallery

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

Related publications