The Project
TTSA is an initiator and a founding shareholder of EMC Subsea Cable Co. Ltd, alongside STC / Center3 (Saudi Arabia) and PPC Group (Greece). The project formally commenced in May 2024, marking a milestone as the first project-financed subsea cable system in the Eastern Mediterranean region.
The combined project value of EMC-West and EMC-East exceeds $1 billion, representing one of the largest digital infrastructure investments in the region.
Financing Structure
Structured with National Bank of Greece (NBG) as Facility Agent and MUFG Bank in advisory/arranger capacity — a landmark financing model for the subsea cable industry in the region. PwC serves as infrastructure and platform project advisor across the EMC framework.
Key Shareholders
- TTSA Cyprus Ltd (Greece/Cyprus) — Initiator & Founding Shareholder
- STC / Center3 (Saudi Arabia) — Anchor Partner
- PPC Group (Greece) — Infrastructure Partner
Project Scope
- EMC-West: Eastern Mediterranean terrestrial and subsea route
- EMC-East: Connecting Asia and the Middle East to the Mediterranean
- Route: Asia — Middle East — Eastern Mediterranean — Europe
Key Milestones
- 2020 — TTSA Cyprus, Center3 (STC) and PPC Group enter the EMC SPV
- May 2024 — Project formally commences
- September 2025 — EMC team at Submarine Networks World, Singapore