Bulk seeks Canadian majority owner for planned Europe-Canada cable

Bulk Infrastructure Group is seeking a Canadian partner to own most of its planned Leif Erikson cable system between Europe and Canada, founder Peder Nærbø told Bloomberg. The project would bypass US networks and is expected to cost more than $620 million. The proposed route would cross 4,600km of the Atlantic from southern Norway to Happy Valley-Goose Bay, then run about 1,900km underground through Quebec to Montreal. Vendors have signed on, but the project still needs route studies, customers and funding. The land route also faces permitting hurdles and needs Indigenous community support. Only a few subsea cables connect Canada directly to the rest of the world without passing through the US; none is Canadian-owned.