PIPE Networks secures funding for PPC-1 project

MIS Financial Review is reporting that Australia’s PIPE Networks has secured the necessary funding for completion of its PPC-1 submarine cable project. The funding is expected to allow PIPE to complete the project without calling for early payments from customers as had been expected. The PCC-1 cable will link Sydney with Guam, and is expected to provide businesses a direct broadband link to both the US and Asia. US-based Tyco Telecommunications has been contracted to manage the turnkey project, and the cable is expected to go live by the end of 1H 2009.