The Republic of Equatorial Guinea (EG), the wealthiest country in Africa on a per capita basis, has entered into a joint venture agreement with GridlineXstreme (GXI), a wholly owned subsidiary of Gridline Communications to implement a high speed, broadband communications network in Equatorial Guinea. After several years of working together to research needs and solutions, EG and GXI have settled on a program that should significantly improve the national communications infrastructure and dramatically fuel the development of current and future economic growth in a variety of market segments, consistent with EG's adopted “Horizon 2020 program.” Equatorial Guinea has very significant natural resources and has outlined its goals to broaden its economic base through its Horizon 2020 plan.
The joint venture (JV), Gridline Africa, will be 50% equally owned by both EG and GXI (the Parties). Gridline Africa, an Equatorial Guinea Corporation, will own and operate the broadband communications network including “datacenters, network infrastructure, high speed broadband and other communications services. The agreement states the Parties will “quickly negotiate and enter into the definitive JV in a professional and timely fashion.”
Further, the agreement states that, separate from the JV, GXI will provide technical support, training and implementation as necessary to the existing communications companies currently in operation. GXI has already identified the first level of system improvements and upgrades required to improve EG's existing communications infrastructure.
This project will further GXI's reach with the current Cheshire County U.K. project, being executed in partnership with Exstreme Networks Limited “ENL.” Gridline is in the final stages of completing an acquisition of ENL.
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Resumen en Español
El Gobierno de Guinea Ecuatorial ha firmado un acuerdo de empresa con la filial de Gridline, GridlineXstreme (GXI), para implantar una red de banda ancha de alta velocidad en el país. Tras muchos años de estudiar las necesidades de la población, esta iniciativa va a mejorar de forma sustancial la infraestructura de telecomunicaciones de Guinea Ecuatorial, uno de los puntos fundamentales del Plan Nacional de Desarrollo, Horizonte 2020.
A través de esta iniciativa, Gridline y el Gobierno trabajarán juntos para conectar mejor a todos ecuatoguineanos, impulsando así el crecimiento económico y el acceso a las nuevas tecnologías.
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