According to online sources, Microsoft Corp and Facebook Inc are currently planning to build a subsea cable across the Atlantic Ocean floor, in order to meet the growing demand for high-speed cloud and online services globally.

Adding to the cables currently in existence, the new cable is being called “MAREA" and will be 6,600 kilometers long on completion.

It will be operated by Telefonica SA’s telecoms infrastructure unit Telxius and be the first cable to connect the U.S with southern Europe.

The development is being seen by some as a counterpoint to Google’s, (Alphabet Inc.) agreement to build a trans-Pacific cable network to connect the U.S with Japan, for US $300 million.

Completion of the MAREA cable, which will be designed to carry 160 terabits of data per second, is expected to come in October of 2017. Construction will begin this August.

Microsoft has other existing underwater ventures, which include a plan to build data centers on the ocean floor. These will use renewable marine energy to operate, reducing the large cost associated with cooling hot data centers currently on land.