Reach partners commit USD212 million to the venture

18 Apr 2005

Telstra and PCCW have announced that they will plough USD212 million into their submarine cable joint venture Reach. The plan is part of the company’s ongoing restructuring, which will see Reach drop most of its external customers using its capacity. Under the announcement Telstra and PCCW will each provide half of Reach’s committed capital expenditure up to 2022; Telstra has already paid USD157 million upfront for building future capacity and its capital contribution will be taken from this payment.