Pipe Networks signs PPC-1 MoU: Sydney-Guam cable to go ahead

, posted: 19-Dec-2008 13:15

The always vigilant Commsday reports that Pipe Networks has rescued the PPC-1 cable between Sydney and Guam by signing a deal with cable layers Tyco Telecoms and an unknown key customer. Pipe Networks says in an announcement to the Aussie stock exchange that while most of the terms in the Memorandum of Understanding signed are confidential for now, a number of supplier payments to align with customer payments along with a number of customer payments being brought forward to more closely align with with the timing of supplier payments.

That, I think, is the most longwinded way ever of saying "there's money coming in for the PPC-1 cable to pay for everyone".

Good on Pipe for stitching that deal, especially in the current market where credit's tighter than a gnat's proverbial. So who is the "key customer" then? As the PPC-2 cable mooted between NZ and Australia depends on PPC-1, I'm wondering if there might not be government involvment there.

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