Work on the fibre-optic underground cable network will start immediately and be 90% complete by 2014.
Who was there to caution against the mad stampede of telecoms firms into fibre-optic cable?
Although Enron made markets in it, fibre-optic backbone is not really a fungible commodity.
One, says Mr Bane, is if the fibre-optic capacity glut turns into a supply shortage.
The upshot was a huge increase in the number of competitors and of overlapping fibre-optic networks.
Similar calculations would probably apply to the investment in fibre-optic cables better suited to rising demand.
MCI, WorldCom has a fibre-optic cable in America, global satellite coverage, and a mass of undersea fibre.
The name reflects the fact that radio links are used to connect homes to a traditional fibre-optic backbone.
Chinese firms are helping to lay fibre-optic cables linking Cuba, Jamaica and Venezuela, as well as Guyana and Brazil.
Best of all, WorldCom has local fibre-optic telephone networks in 86 American cities.
Between them, Japan's ten regional electricity suppliers own the second-largest fibre-optic network in the country, measuring 160, 000 kilometres and growing.
IX, in contrast, uses fibre-optic strands to guide the light from its lamp to the individual holes in its star-masks.
Fibre-optic cables will link each of these dishes to a central processing area, where supercomputers will stitch their data together.
Eric Bender, who is about to submit plans for the server farm, will not have to lay much fibre-optic cable.
This was prompted by the (failed) attempt by a shadowy Chinese company to take over a Dutch maker of fibre-optic cables.
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The latter have built fibre-optic networks across many countries and can offer not only telephones but broadband connections and television too.
BSES's fibre-optic network in Mumbai seems to be part of the attraction.
For now, and probably in the long term, TV white space networks will be complementary to fibre-optic broadband rather than a replacement.
It uses fibre-optic cables to give gigabit (1, 000Mbps) connection speeds to subscribers.
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The woman, 75, had been digging for the metal not far from the capital Tbilisi when her spade damaged the fibre-optic cable on 28 March.
He said fibre-optic cables had been laid past more than half of the island's homes, passing 26, 115 homes by 31 December instead of the planned 9, 628.
Pirelli says it will now concentrate on cable technology and fibre-optic components, which together accounted for 19% of its sales last year, and also on telecoms services.
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The business of laying fibre-optic cable, both terrestrially and under the sea, used to be the preserve of incumbent telecoms operators sharing the burden of capital-intensive projects.
NTL, recognised in the industry as the most innovative company, also has the most comprehensive infrastructure cable, mobile telephony, a national fibre-optic network and a television broadcast network.
Daniel Gross, a journalist, wrote a book claiming that bubbles were good for economies since they leave behind infrastructure (canals, railways, fibre-optic cable) that can last for generations.
In many countries telecoms operators have been converting some of their last-mile connections to high-speed fibre-optic links, though cable networks and telephone wires still account for most last-mile connections.
He listed numerous violations of security policies in recent years, including by one (unnamed) news group that installed a fibre-optic cable despite having been told repeatedly this was not allowed.
The ground control stations send their commands to Reaper via a fibre-optic link to a satellite relay station in Europe, which bounces them into space and back down to the aircraft.
Another possibility, much discussed within the Treasury, would be a government-sponsored effort to encourage the private sector to lay state-of-the art fibre-optic cable in one or more of Britain's major cities.
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