MOSCOW, May 27. /TASS/. MegaFon suspends implementation of a joint project with Finland’s Cinia for laying a fiber-optic communication line Arctic Connect from Europe to Asia along the Russian Arctic coast, Vedomosti newspaper reports on Thursday.
"We have indeed made the decision to review the structure and the economics of the Arctic Connect project. We will need time for such regrouping - all project groundwork will be used in future if we decide to proceed with it," the newspaper says, citing the press service of the Russian mobile communication operators.
According to the newspaper, project suspension is related to protraction in talks with Japan’s Sojitz Corporation participating in construction co-funding.
The Arctic Connect communication line was planned to be laid on the Arctic Ocean’s bottom along the Russian Arctic coast. The first phase of marine exploration was completed in November 2020.