Alfa-Bank has become an investor in the project to build the TEA Next trans-Eurasian fiber-optic communication line. VEB.RF left it last year. Kommersant writes about this.
Author:
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The bank has not specified the investment objectives for the project, but analysts are inclined to believe that the bank has a financial interest: on the basis of TEA Next, the country’s communications backbone will be developed by 2025; it can be extended to Mongolia and China.
“Alfa-Bank is actively looking for sources of current and future profits, so there is no reason to think that it will influence the development of the project technologically: it only has a financial interest,” says Andrei Fedorets, head of the information security committee of the Association of Russian Banks.
Alfa-Bank now owns 49.99% of Atlas LLC, the operator of the TEA Next construction project, the information appeared in the Unified State Register of Legal Entities on September 5. We are talking about the main line “Transit Europe-Asia of a new generation”, the project is designed until the beginning of 2026.
Rostelecom and VEB.RF were to invest around $650 million in the project by 2025, but the bank withdrew from the project in the summer of 2023 after Western sanctions were imposed on it. Alfa-Bank announced its desire to become a partner last fall.
In the future, TEA Next will have the most modern communication capabilities, it is intended to become a key communication tool not only with China, but also with Mongolia and the Republic of Korea, but for now it is difficult to imagine using Russian transit communication capabilities between Europe and China due to sanctions.
Author:
Nikolai Tikhonov
Source: RB
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