Miami-based TeleCuba Communications announced Monday that it had been granted a license by the U.S. Treasury to install a fiber-optic cable between Key West and Havana.

The 110-mile cable will cost about $18 million and should be operational by 2011, TeleCuba said in a release.

Calls to the Department of Treasury were not immediately returned due to the Columbus Day holiday.

TeleCuba said the cable to Cuba will allow for services such as high-speed Internet and cable television, which are not feasible using current satellite communications.

The news comes weeks after the Obama administration dropped key provisions of the economic embargo and made it legal for U.S. companies to pursue fiber-optic, cellular roaming and satellite TV and radio deals. Cuba, however, must approve any plans.

The announcement could put TeleCuba in a race against Cuban ally Venezuela.

In June, Venezuelan President Hugo Chávez said the nation would invest $70 million in creating a fiber link with the Caribbean island.

-- JIM WYSS

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