BAKU, Azerbaijan, March 16. Kazakhstan’s “Kazakhtelecom” and Azerbaijan’s “Azertelecom” are currently working on the creation of a joint venture in the framework of the project on laying a fiber-optic communication line (FOCL) along the bottom of the Caspian Sea, a source at Kazakhtelecom told Trend.
The sides are currently in the process of working out several legal and financial matter necessary to be finalized for the creation of the joint venture.
The source noted that several stages of the project have already been completed, including signing the Memorandum on Cooperation between the companies, preparing a detailed roadmap of the project, devising a high-level design (HLD).
Kazakhtelecom and Azertelecom have also signed the Term Sheet and reached agreement on technical and commercial matters.
The source noted that the discussion on the mechanism for financing is being worked out between the sides, in addition to mentioning that there are no foreseeable technical difficulties, which may prevent the project from completion.