The proposed Leif Erikson project involves constructing a 2,800-mile subsea fiber-optic cable connecting Norway to Canada. The route would start in southern Norway and terminate at Happy Valley-Goose Bay, continuing underground through Quebec to Montreal. The total cost for the infrastructure is estimated to exceed $620 million.
Bulk, the Norwegian company behind the initiative, is seeking additional financing and regulatory approval from both Canada and the European Union. The project aims to provide secure data transmission for AI, telecommunications, and hyperscale markets, bypassing existing routes that pass through the United States.
The company has already laid over 6,200 miles of cable. Bulk is partially owned by a subsidiary of Sun Life Financial Inc., which holds a 65% stake, alongside investments from various Canadian pension funds. Development plans include a 1,180-mile underground section requiring cooperation with Indigenous communities.
Canadian and European officials are scheduled to discuss enhancing digital connectivity through new subsea infrastructure on October 29 in Montreal. This initiative follows years of attempts by Bulk co-founder Peder Nærbø to launch the project, which is now gaining momentum due to evolving geopolitical conditions.
