Global subsea cable operator FLAG, previously known as Global Cloud Xchange (GCX), has identified India as one of its most critical markets and plans to invest close to Rs 3.55 billion as it considers broadening its presence in the country.
In May 2025, FLAG secured $340 million in refinancing from a consortium of lenders like Apterra Infrastructure Capital, Barclays Bank, Canadian Imperial Bank of Commerce (CIBC), DNB Bank ASA, HSBC Holdings plc, National Australia Bank (NAB), and NatWest Group to repay its existing debt facilities and support its expansion initiatives.
Further, the company’s chief executive noted that after completing the refinancing process, FLAG has already deployed $20 million in capital expenditure toward a half-fibre pair connecting Mumbai and Singapore, as well as Chennai and Singapore.
