Business | Telecoms
Yahsat to launch two satellites by 2011
Company signs Dh400m deal with US firm.
- By Nadia Saleem, Staff Reporter
- Published: 01:24 March 7, 2008
Dubai: Yahsat, the UAE's new satellite communications company, supported by an investment of $1.7 billion will be launching two satellites.
The first Yahsat 1 will be in orbit by the end of 2010, and the second Yahsat 2 will follow six months later.
To lease transponder capacity C-band, the company signed a contract worth Dh400 million yesterday with Emerging Markets Communication (EMC), operator of teleport facilities from Florida, US.
The satellites, with tri-band network will provide coverage to 85 countries in the Middle East, Africa, Europe and South West Asia.
"Our participation in Cabsat for the first time created the perfect platform to kick off our strategic partnership with potential clients, one of which has been signed now, and lot more being studies to be finalised soon," said Waleed Ahmad Al Muhairi, chairman of Yahsat.
The long-term contract was signed to serve high profile government, commercial and non-profit organisations, including the United Nations.
Abu Dhabi government's strategic investment and development vehicle, Mubadala is the parent company of Yahsat.
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